C4 Therapeutics (NASDAQ:CCCC) Stock: Insider Kendra Adams Sells 45,173 Shares

C4 Therapeutics, Inc. (NASDAQ:CCCC) CFO Kendra Adams sold 45,173 shares of the firm’s stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $2.71, for a total value of $122,418.83. Following the completion of the transaction, the chief financial officer owned 337,150 shares in the company, valued at $913,676.50. The trade was a 11.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C4 Therapeutics Price Performance

CCCC stock traded down $0.01 during midday trading on Friday, reaching $2.76. The company had a trading volume of 2,543,578 shares, compared to its average volume of 2,657,840. C4 Therapeutics, Inc. has a 1-year low of $1.69 and a 1-year high of $5.17. The stock has a 50 day moving average price of $3.15 and a 200-day moving average price of $3.24. The company has a market capitalization of $362.44 million, a price-to-earnings ratio of -3.83 and a beta of 3.16.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The firm had revenue of $8.47 million for the quarter, compared to the consensus estimate of $8.52 million. C4 Therapeutics had a negative net margin of 282.22% and a negative return on equity of 37.71%. As a group, research analysts anticipate that C4 Therapeutics, Inc. will post -0.73 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on CCCC shares. Wall Street Zen downgraded shares of C4 Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Lake Street Capital initiated coverage on shares of C4 Therapeutics in a research note on Wednesday, October 28th. They issued a “buy” rating and a $11.00 price objective on the stock. Evercore downgraded shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 2nd. Guggenheim initiated coverage on C4 Therapeutics in a research note on Friday, November 6th. They set a “buy” rating and a $6.00 target price for the company. Finally, JPMorgan Chase & Co. began coverage on C4 Therapeutics in a report on Friday, October 9th. They issued an “overweight” rating and a $10.00 target price on the stock. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP increased its position in C4 Therapeutics by 18.9% during the 2nd quarter. Wasatch Advisors LP now owns 3,522,644 shares of the company’s stock worth $16,451,000 after purchasing an additional 560,883 shares in the last quarter. Candriam S.C.A. boosted its position in C4 Therapeutics by 53.6% in the third quarter. Candriam S.C.A. now owns 2,760,346 shares of the company’s stock valued at $9,226,000 after buying an additional 963,409 shares in the last quarter. Renaissance Technologies LLC boosted its position in C4 Therapeutics by 53.6% in the first quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company’s stock valued at $6,475,000 after buying an additional 859,235 shares in the last quarter. Congress Asset Management Co. grew its stake in shares of C4 Therapeutics by 25.2% during the third quarter. Congress Asset Management Co. now owns 1,256,692 shares of the company’s stock worth $4,185,000 after buying an additional 253,255 shares during the last quarter. Finally, Velan Capital Investment Management LP bought a new stake in shares of C4 Therapeutics during the second quarter worth $2,662,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc. is a clinical-stage biopharmaceutical company based in Watertown, Massachusetts. Founded in 2015, it develops medicines designed to selectively remove disease-causing proteins, with a focus on cancer. The company uses its TORPEDO platform to design targeted protein degraders. These molecules are intended to bind a target protein and recruit the cell’s natural protein-disposal machinery, leading to the protein’s breakdown. C4 Therapeutics’ research and development programs include oral small-molecule candidates for oncology.