Key Points
- CFO Kendra Adams sold 45,173 shares at an average of $2.71, worth about $122,419, under a pre-arranged Rule 10b5-1 plan. She retained 337,150 shares after the sale.
- C4 Therapeutics reported quarterly EPS of a $0.16 loss, beating analyst estimates, while revenue of $8.47 million came in slightly below expectations.
- Analysts’ consensus rating is “Moderate Buy,” with an average price target of $8.50; shares recently traded at $2.76.
C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) CFO Kendra Adams sold 45,173 shares of the firm's stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $2.71, for a total value of $122,418.83. Following the completion of the sale, the chief financial officer owned 337,150 shares of the company's stock, valued at approximately $913,676.50. This trade represents a 11.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
C4 Therapeutics Trading Down 0.4%
Shares of C4 Therapeutics stock traded down $0.01 during trading on Friday, reaching $2.76. The company's stock had a trading volume of 2,543,578 shares, compared to its average volume of 3,051,738. The stock has a 50-day moving average price of $3.13 and a two-hundred day moving average price of $3.24. The stock has a market capitalization of $362.44 million, a P/E ratio of -3.83 and a beta of 3.16. C4 Therapeutics, Inc. has a one year low of $1.69 and a one year high of $5.17.
C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.16) EPS for the quarter, topping analysts' consensus estimates of ($0.19) by $0.03. C4 Therapeutics had a negative net margin of 282.22% and a negative return on equity of 37.71%. The firm had revenue of $8.47 million for the quarter, compared to analyst estimates of $8.52 million. As a group, sell-side analysts anticipate that C4 Therapeutics, Inc. will post -0.73 EPS for the current fiscal year.
Wall Street Analyst Weigh In
CCCC has been the topic of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of C4 Therapeutics in a research report on Thursday, October 15th. Evercore cut shares of C4 Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 2nd. Wall Street Zen lowered shares of C4 Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, November 7th. JPMorgan Chase & Co. initiated coverage on shares of C4 Therapeutics in a research report on Friday, October 9th. They issued an "overweight" rating and a $10.00 price objective for the company. Finally, Guggenheim started coverage on C4 Therapeutics in a report on Friday, November 6th. They set a "buy" rating and a $6.00 price objective on the stock. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, C4 Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.50.
Check Out Our Latest Analysis on CCCC
Hedge Funds Weigh In On C4 Therapeutics
Hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its position in C4 Therapeutics by 18.9% in the second quarter. Wasatch Advisors LP now owns 3,522,644 shares of the company's stock worth $16,451,000 after purchasing an additional 560,883 shares during the period. Candriam S.C.A. lifted its position in C4 Therapeutics by 53.6% during the 3rd quarter. Candriam S.C.A. now owns 2,760,346 shares of the company's stock valued at $9,226,000 after purchasing an additional 963,409 shares during the period. Renaissance Technologies LLC lifted its position in C4 Therapeutics by 53.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company's stock valued at $6,475,000 after purchasing an additional 859,235 shares during the period. Congress Asset Management Co. lifted its position in C4 Therapeutics by 25.2% during the 3rd quarter. Congress Asset Management Co. now owns 1,256,692 shares of the company's stock valued at $4,185,000 after purchasing an additional 253,255 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of C4 Therapeutics by 277.0% in the 3rd quarter. Marshall Wace LLP now owns 855,805 shares of the company's stock valued at $2,850,000 after purchasing an additional 628,802 shares during the last quarter. Institutional investors own 78.81% of the company's stock.
About C4 Therapeutics
(
Get Free Report)
C4 Therapeutics, Inc. is a clinical-stage biopharmaceutical company based in Watertown, Massachusetts. Founded in 2015, it develops medicines designed to selectively remove disease-causing proteins, with a focus on cancer. The company uses its TORPEDO platform to design targeted protein degraders. These molecules are intended to bind a target protein and recruit the cell's natural protein-disposal machinery, leading to the protein's breakdown. C4 Therapeutics' research and development programs include oral small-molecule candidates for oncology.
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