Velan Capital Investment Management LP Takes $2.66 Million Position in C4 Therapeutics, Inc. $CCCC

Velan Capital Investment Management LP purchased a new position in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 570,000 shares of the company’s stock, valued at approximately $2,662,000. C4 Therapeutics accounts for 1.6% of Velan Capital Investment Management LP’s investment portfolio, making the stock its 16th biggest position.

Several other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in C4 Therapeutics by 957.6% in the 1st quarter. AQR Capital Management LLC now owns 140,532 shares of the company’s stock worth $225,000 after purchasing an additional 127,244 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of C4 Therapeutics by 8.6% during the first quarter. Goldman Sachs Group Inc. now owns 622,720 shares of the company’s stock valued at $996,000 after buying an additional 49,065 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of C4 Therapeutics in the first quarter worth approximately $43,000. XTX Topco Ltd lifted its stake in shares of C4 Therapeutics by 170.0% during the 2nd quarter. XTX Topco Ltd now owns 108,278 shares of the company’s stock worth $155,000 after acquiring an additional 68,178 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of C4 Therapeutics by 11.1% during the 2nd quarter. Invesco Ltd. now owns 155,017 shares of the company’s stock worth $222,000 after acquiring an additional 15,531 shares during the last quarter. 78.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.75.

C4 Therapeutics Trading Up 4.3%

Shares of CCCC stock opened at $3.87 on Wednesday. C4 Therapeutics, Inc. has a twelve month low of $1.69 and a twelve month high of $5.17. The stock has a fifty day simple moving average of $3.95 and a two-hundred day simple moving average of $3.38. The stock has a market capitalization of $476.13 million, a price-to-earnings ratio of -3.87 and a beta of 2.94.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.05. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%.The firm had revenue of $6.64 million during the quarter, compared to the consensus estimate of $4.00 million. Research analysts predict that C4 Therapeutics, Inc. will post -0.85 EPS for the current fiscal year.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.