C4 Therapeutics, Inc. (NASDAQ:CCCC) Shares Acquired by M&T Bank Corp

M&T Bank Corp grew its stake in C4 Therapeutics, Inc. (NASDAQ:CCCC) by 16.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,715 shares of the company’s stock after acquiring an additional 18,808 shares during the quarter. M&T Bank Corp’s holdings in C4 Therapeutics were worth $478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Point72 Asset Management L.P. grew its holdings in shares of C4 Therapeutics by 331.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,201,848 shares of the company’s stock worth $6,851,000 after purchasing an additional 923,268 shares during the period. Wasatch Advisors LP grew its holdings in shares of C4 Therapeutics by 17.1% during the 3rd quarter. Wasatch Advisors LP now owns 5,677,368 shares of the company’s stock worth $32,361,000 after purchasing an additional 830,218 shares during the period. FMR LLC grew its holdings in shares of C4 Therapeutics by 687.0% during the 3rd quarter. FMR LLC now owns 185,941 shares of the company’s stock worth $1,060,000 after purchasing an additional 162,314 shares during the period. Geode Capital Management LLC grew its holdings in shares of C4 Therapeutics by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,369,676 shares of the company’s stock worth $7,809,000 after purchasing an additional 7,460 shares during the period. Finally, Barclays PLC grew its holdings in shares of C4 Therapeutics by 38.4% during the 3rd quarter. Barclays PLC now owns 243,457 shares of the company’s stock worth $1,387,000 after purchasing an additional 67,546 shares during the period. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Price Performance

Shares of C4 Therapeutics stock opened at $2.02 on Friday. The business has a 50-day moving average of $3.24 and a 200 day moving average of $4.57. C4 Therapeutics, Inc. has a 12 month low of $1.95 and a 12 month high of $10.82. The stock has a market capitalization of $143.40 million, a price-to-earnings ratio of -1.19 and a beta of 2.99.

C4 Therapeutics (NASDAQ:CCCC) last announced its earnings results on Thursday, February 27th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. The firm had revenue of $5.18 million for the quarter, compared to analysts’ expectations of $4.43 million. Equities research analysts anticipate that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

CCCC has been the subject of a number of research analyst reports. UBS Group upgraded C4 Therapeutics to a “hold” rating in a report on Friday, February 14th. Wells Fargo & Company upgraded C4 Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $8.00 to $12.00 in a report on Thursday, December 19th. Finally, Stephens initiated coverage on C4 Therapeutics in a report on Monday, November 18th. They set an “equal weight” rating and a $4.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

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.