Franklin Resources Inc. Acquires Shares of 34,383 C4 Therapeutics, Inc. (NASDAQ:CCCC)

Franklin Resources Inc. bought a new position in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,383 shares of the company’s stock, valued at approximately $202,000.

Other large investors have also recently modified their holdings of the company. Lynx1 Capital Management LP lifted its stake in shares of C4 Therapeutics by 89.3% during the 2nd quarter. Lynx1 Capital Management LP now owns 6,880,527 shares of the company’s stock valued at $31,788,000 after buying an additional 3,245,865 shares in the last quarter. Wasatch Advisors LP raised its holdings in C4 Therapeutics by 17.1% during the 3rd quarter. Wasatch Advisors LP now owns 5,677,368 shares of the company’s stock valued at $32,361,000 after acquiring an additional 830,218 shares during the period. Geode Capital Management LLC lifted its position in shares of C4 Therapeutics by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,369,676 shares of the company’s stock worth $7,809,000 after acquiring an additional 7,460 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in shares of C4 Therapeutics by 6.0% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,319,484 shares of the company’s stock worth $7,521,000 after acquiring an additional 75,126 shares during the period. Finally, Point72 Asset Management L.P. grew its position in shares of C4 Therapeutics by 331.4% in the third quarter. Point72 Asset Management L.P. now owns 1,201,848 shares of the company’s stock valued at $6,851,000 after purchasing an additional 923,268 shares in the last quarter. Hedge funds and other institutional investors own 78.81% of the company’s stock.

Analyst Upgrades and Downgrades

CCCC has been the topic of a number of recent research reports. Wells Fargo & Company raised C4 Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $8.00 to $12.00 in a report on Thursday, December 19th. Stephens started coverage on C4 Therapeutics in a research report on Monday, November 18th. They set an “equal weight” rating and a $4.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.67.

C4 Therapeutics Stock Performance

NASDAQ:CCCC opened at $3.66 on Friday. C4 Therapeutics, Inc. has a 52-week low of $3.43 and a 52-week high of $11.88. The stock has a fifty day moving average of $4.64 and a 200 day moving average of $5.39. The firm has a market capitalization of $258.36 million, a price-to-earnings ratio of -2.15 and a beta of 2.92.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $15.36 million for the quarter, compared to analysts’ expectations of $5.95 million. Equities analysts forecast that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current fiscal year.

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.