The Manufacturers Life Insurance Company Raises Stock Position in C4 Therapeutics, Inc. (NASDAQ:CCCC)

The Manufacturers Life Insurance Company raised its holdings in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 81.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,664 shares of the company’s stock after buying an additional 18,746 shares during the period. The Manufacturers Life Insurance Company’s holdings in C4 Therapeutics were worth $237,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CCCC. Headlands Technologies LLC purchased a new position in C4 Therapeutics in the 2nd quarter worth approximately $45,000. B. Riley Wealth Advisors Inc. bought a new position in shares of C4 Therapeutics during the 2nd quarter valued at about $51,000. Aigen Investment Management LP purchased a new position in shares of C4 Therapeutics during the third quarter valued at about $82,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of C4 Therapeutics in the second quarter worth about $125,000. Finally, SG Americas Securities LLC purchased a new stake in shares of C4 Therapeutics in the third quarter worth about $142,000. Institutional investors own 78.81% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens assumed coverage on shares of C4 Therapeutics in a research report on Monday, November 18th. They set an “equal weight” rating and a $4.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.00.

C4 Therapeutics Price Performance

Shares of CCCC stock opened at $4.31 on Tuesday. C4 Therapeutics, Inc. has a one year low of $3.77 and a one year high of $11.88. The company has a market capitalization of $304.24 million, a P/E ratio of -2.54 and a beta of 2.92. The company’s 50-day simple moving average is $5.15 and its two-hundred day simple moving average is $5.47.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. The business had revenue of $15.36 million for the quarter, compared to the consensus estimate of $5.95 million. On average, research analysts expect that C4 Therapeutics, Inc. will post -1.52 EPS for the current fiscal year.

C4 Therapeutics 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.