Aigen Investment Management LP Invests $82,000 in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Aigen Investment Management LP bought a new position in C4 Therapeutics, Inc. (NASDAQ:CCCC) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 14,344 shares of the company’s stock, valued at approximately $82,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CCCC. Lynx1 Capital Management LP grew its position in shares of C4 Therapeutics by 89.3% in the 2nd quarter. Lynx1 Capital Management LP now owns 6,880,527 shares of the company’s stock worth $31,788,000 after buying an additional 3,245,865 shares during the period. Vanguard Group Inc. boosted its stake in C4 Therapeutics by 46.0% in the 1st quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock worth $23,857,000 after purchasing an additional 920,627 shares in the last quarter. Bank of New York Mellon Corp bought a new position in C4 Therapeutics in the 2nd quarter worth about $881,000. Hennion & Walsh Asset Management Inc. bought a new position in C4 Therapeutics in the 2nd quarter worth about $660,000. Finally, Acadian Asset Management LLC boosted its stake in C4 Therapeutics by 415.8% in the 2nd quarter. Acadian Asset Management LLC now owns 113,436 shares of the company’s stock worth $524,000 after purchasing an additional 91,443 shares in the last quarter. 78.81% of the stock is owned by hedge funds and other institutional investors.

C4 Therapeutics Stock Performance

CCCC opened at $4.31 on Monday. The stock has a market capitalization of $304.24 million, a P/E ratio of -2.54 and a beta of 3.04. The company’s 50-day simple moving average is $5.89 and its two-hundred day simple moving average is $5.72. C4 Therapeutics, Inc. has a 52-week low of $1.06 and a 52-week high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last posted its earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.05. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. The business had revenue of $15.36 million for the quarter, compared to analysts’ expectations of $5.95 million. Research analysts forecast that C4 Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets reiterated an “outperform” rating and issued a $20.00 price target on shares of C4 Therapeutics in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.20.

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.