Wellington Management Group LLP Takes $1.06 Million Position in C4 Therapeutics, Inc. $CCCC

Wellington Management Group LLP purchased a new position in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 227,768 shares of the company’s stock, valued at approximately $1,064,000.

Other institutional investors and hedge funds have also modified their holdings of the company. SummitTX Capital L.P. acquired a new stake in C4 Therapeutics in the first quarter valued at about $28,000. CTC Alternative Strategies Ltd. bought a new position in C4 Therapeutics in the first quarter valued at about $28,000. Zacks Investment Management acquired a new position in C4 Therapeutics during the third quarter worth about $29,000. Virtu Financial LLC acquired a new position in C4 Therapeutics during the fourth quarter worth about $39,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of C4 Therapeutics in the third quarter worth about $43,000. 78.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.67.

C4 Therapeutics Stock Performance

Shares of NASDAQ:CCCC opened at $3.51 on Friday. The company has a fifty day moving average of $3.83 and a 200-day moving average of $3.47. The company has a market capitalization of $431.82 million, a PE ratio of -3.51 and a beta of 2.94. C4 Therapeutics, Inc. has a 52-week low of $1.69 and a 52-week high of $5.17.

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. The company had revenue of $6.64 million for the quarter, compared to the consensus estimate of $4.00 million. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%. On average, equities analysts forecast that C4 Therapeutics, Inc. will post -0.85 EPS for the current fiscal year.

C4 Therapeutics 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.