Martingale Asset Management L P purchased a new stake in C4 Therapeutics, Inc. (NASDAQ:CCCC – Get Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 29,429 shares of the company’s stock, valued at approximately $222,000.
Several other institutional investors have also recently added to or reduced their stakes in CCCC. Tortoise Investment Management LLC acquired a new position in C4 Therapeutics in the first quarter valued at approximately $45,000. M&T Bank Corp lifted its stake in C4 Therapeutics by 134.3% in the first quarter. M&T Bank Corp now owns 17,348 shares of the company’s stock valued at $420,000 after buying an additional 9,944 shares during the period. Swiss National Bank lifted its stake in C4 Therapeutics by 7.9% in the first quarter. Swiss National Bank now owns 28,800 shares of the company’s stock valued at $699,000 after buying an additional 2,100 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in C4 Therapeutics by 126.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 14,540 shares of the company’s stock valued at $353,000 after buying an additional 8,120 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in C4 Therapeutics in the first quarter valued at approximately $217,000. 80.43% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on CCCC. Wells Fargo & Company dropped their price target on C4 Therapeutics from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 8th. Credit Suisse Group upped their target price on C4 Therapeutics to $12.00 in a research report on Tuesday, August 9th. SVB Leerink reaffirmed an “outperform” rating on shares of C4 Therapeutics in a research report on Wednesday, October 26th. Morgan Stanley assumed coverage on C4 Therapeutics in a research report on Tuesday, October 11th. They set an “underweight” rating and a $6.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered C4 Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $22.00 to $15.00 in a research report on Friday, November 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.11.
C4 Therapeutics Trading Down 16.2 %
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.
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