Hennion & Walsh Asset Management Inc. Buys 49,532 Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC)

Hennion & Walsh Asset Management Inc. grew its stake in C4 Therapeutics, Inc. (NASDAQ:CCCC) by 34.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,364 shares of the company’s stock after purchasing an additional 49,532 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in C4 Therapeutics were worth $1,096,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in C4 Therapeutics in the 2nd quarter valued at about $45,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of C4 Therapeutics in the second quarter valued at approximately $51,000. Cornercap Investment Counsel Inc. bought a new position in shares of C4 Therapeutics during the second quarter worth approximately $125,000. Entropy Technologies LP acquired a new stake in C4 Therapeutics during the 1st quarter worth approximately $126,000. Finally, SG Americas Securities LLC acquired a new stake in C4 Therapeutics during the 3rd quarter worth approximately $142,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

C4 Therapeutics Trading Down 1.0 %

Shares of CCCC stock opened at $5.89 on Friday. The stock has a market cap of $405.27 million, a P/E ratio of -2.49 and a beta of 3.04. C4 Therapeutics, Inc. has a 1 year low of $1.06 and a 1 year high of $11.88. The stock has a 50 day simple moving average of $6.06 and a 200 day simple moving average of $5.85.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.11. The firm had revenue of $12.01 million during the quarter, compared to analysts’ expectations of $6.88 million. C4 Therapeutics had a negative return on equity of 44.60% and a negative net margin of 367.17%. Analysts forecast that C4 Therapeutics, Inc. will post -1.57 EPS for the current year.

Analysts Set New Price Targets

Separately, BMO Capital Markets reiterated an “outperform” rating and set a $20.00 price objective on shares of C4 Therapeutics in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, C4 Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

About C4 Therapeutics

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.