MetLife Investment Management LLC Boosts Stock Position in C4 Therapeutics, Inc. (NASDAQ:CCCC)

MetLife Investment Management LLC increased its holdings in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) by 129.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,455 shares of the company’s stock after buying an additional 19,978 shares during the period. MetLife Investment Management LLC’s holdings in C4 Therapeutics were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CCCC. Lynx1 Capital Management LP lifted its holdings in C4 Therapeutics by 89.3% during the second quarter. Lynx1 Capital Management LP now owns 6,880,527 shares of the company’s stock valued at $31,788,000 after purchasing an additional 3,245,865 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 buying an additional 920,627 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in C4 Therapeutics during the 2nd quarter worth approximately $881,000. FMR LLC raised its holdings in shares of C4 Therapeutics by 687.0% during the third quarter. FMR LLC now owns 185,941 shares of the company’s stock valued at $1,060,000 after acquiring an additional 162,314 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of C4 Therapeutics in the second quarter valued at approximately $660,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

Analyst Upgrades and Downgrades

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

C4 Therapeutics Stock Up 13.3 %

Shares of NASDAQ:CCCC opened at $4.42 on Monday. C4 Therapeutics, Inc. has a fifty-two week low of $1.12 and a fifty-two week high of $11.88. The firm’s 50 day moving average price is $5.28 and its 200 day moving average price is $5.51. The stock has a market cap of $312.01 million, a price-to-earnings ratio of -2.60 and a beta of 2.92.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) 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 company had revenue of $15.36 million for the quarter, compared to analyst estimates of $5.95 million. On average, equities analysts anticipate that C4 Therapeutics, Inc. will post -1.49 EPS for the current 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.