Tang Capital Management LLC Boosts Stock Holdings in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Tang Capital Management LLC boosted its stake in C4 Therapeutics, Inc. (NASDAQ:CCCC) by 28.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 900,000 shares of the company’s stock after acquiring an additional 200,000 shares during the quarter. Tang Capital Management LLC owned 1.27% of C4 Therapeutics worth $3,240,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its stake in C4 Therapeutics by 4.6% in the 4th quarter. Rhumbline Advisers now owns 100,015 shares of the company’s stock valued at $360,000 after acquiring an additional 4,366 shares during the period. Sei Investments Co. acquired a new stake in C4 Therapeutics in the 4th quarter valued at $45,000. American Century Companies Inc. grew its stake in C4 Therapeutics by 8.5% in the 4th quarter. American Century Companies Inc. now owns 132,832 shares of the company’s stock valued at $478,000 after acquiring an additional 10,459 shares during the period. Geode Capital Management LLC grew its stake in C4 Therapeutics by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,381,086 shares of the company’s stock valued at $4,973,000 after acquiring an additional 11,410 shares during the period. Finally, Wells Fargo & Company MN grew its stake in C4 Therapeutics by 34.9% in the 4th quarter. Wells Fargo & Company MN now owns 36,306 shares of the company’s stock valued at $131,000 after acquiring an additional 9,389 shares during the period. Institutional investors and hedge funds own 78.81% of the company’s stock.

C4 Therapeutics Price Performance

Shares of CCCC opened at $1.38 on Friday. C4 Therapeutics, Inc. has a 52-week low of $1.09 and a 52-week high of $7.66. The firm’s fifty day moving average is $1.59 and its two-hundred day moving average is $3.08. The stock has a market cap of $97.99 million, a PE ratio of -0.81 and a beta of 3.10.

C4 Therapeutics (NASDAQ:CCCC) last announced its earnings results on Wednesday, May 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.11. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. The company had revenue of $7.20 million for the quarter, compared to analysts’ expectations of $3.54 million. As a group, research analysts anticipate that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, UBS Group raised shares of C4 Therapeutics to a “hold” rating in a research note on Friday, February 14th.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops novel therapeutic candidates to degrade disease-causing proteins for the treatment of cancer, neurodegenerative conditions, and other diseases. Its lead product candidate is CFT7455, an orally bioavailable MonoDAC degrader of protein that is in Phase 1/2 trial targeting IKZF1 and IKZF3 for multiple myeloma and non-Hodgkin lymphomas, including peripheral T-cell lymphoma and mantle cell lymphoma, currently under Phase 1/2 clinical trials.