Kazazian Asset Management LLC Acquires Shares of 14,250 C4 Therapeutics, Inc. (NASDAQ:CCCC)

Kazazian Asset Management LLC acquired a new stake in C4 Therapeutics, Inc. (NASDAQ:CCCC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,250 shares of the company’s stock, valued at approximately $51,000.

A number of other institutional investors have also recently bought and sold shares of the business. Wasatch Advisors LP grew its stake in C4 Therapeutics by 17.1% in the 3rd quarter. Wasatch Advisors LP now owns 5,677,368 shares of the company’s stock valued at $32,361,000 after purchasing an additional 830,218 shares during the period. Geode Capital Management LLC grew its stake in C4 Therapeutics by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,369,676 shares of the company’s stock valued at $7,809,000 after purchasing an additional 7,460 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in C4 Therapeutics by 6.0% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,319,484 shares of the company’s stock valued at $7,521,000 after purchasing an additional 75,126 shares during the period. Point72 Asset Management L.P. grew its stake in C4 Therapeutics by 331.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,201,848 shares of the company’s stock valued at $6,851,000 after purchasing an additional 923,268 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in C4 Therapeutics by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 486,366 shares of the company’s stock valued at $1,751,000 after purchasing an additional 3,437 shares during the period. Institutional investors own 78.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CCCC shares. 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 research note on Thursday, December 19th. UBS Group upgraded C4 Therapeutics to a “hold” rating in a research note on Friday, February 14th. 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, C4 Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

C4 Therapeutics Stock Performance

Shares of CCCC opened at $2.08 on Wednesday. The stock’s 50-day simple moving average is $3.13 and its 200 day simple moving average is $4.45. The stock has a market capitalization of $147.66 million, a price-to-earnings ratio of -1.22 and a beta of 2.99. C4 Therapeutics, Inc. has a 52-week low of $1.95 and a 52-week high of $9.19.

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

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.