Public Employees Retirement System of Ohio Lowers Position in C4 Therapeutics, Inc. (NASDAQ:CCCC)

Public Employees Retirement System of Ohio decreased its position in C4 Therapeutics, Inc. (NASDAQ:CCCC) by 65.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,163 shares of the company’s stock after selling 136,293 shares during the period. Public Employees Retirement System of Ohio owned about 0.14% of C4 Therapeutics worth $132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CCCC. State Street Corp boosted its holdings in shares of C4 Therapeutics by 173.8% in the third quarter. State Street Corp now owns 1,961,812 shares of the company’s stock valued at $17,205,000 after acquiring an additional 1,245,369 shares in the last quarter. Lynx1 Capital Management LP purchased a new stake in shares of C4 Therapeutics in the third quarter valued at about $1,896,000. Soleus Capital Management L.P. boosted its holdings in shares of C4 Therapeutics by 69.3% in the fourth quarter. Soleus Capital Management L.P. now owns 2,440,843 shares of the company’s stock valued at $14,401,000 after acquiring an additional 999,330 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in shares of C4 Therapeutics by 14.0% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 5,802,871 shares of the company’s stock valued at $34,237,000 after acquiring an additional 710,896 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of C4 Therapeutics by 98.0% in the third quarter. AQR Capital Management LLC now owns 1,093,099 shares of the company’s stock valued at $2,033,000 after acquiring an additional 540,895 shares in the last quarter. Hedge funds and other institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Price Performance

NASDAQ:CCCC opened at $8.17 on Friday. The firm has a 50 day simple moving average of $8.01 and a 200-day simple moving average of $4.68. The firm has a market cap of $560.46 million, a PE ratio of -3.06 and a beta of 3.24. C4 Therapeutics, Inc. has a 1-year low of $1.06 and a 1-year high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.01). The firm had revenue of $3.26 million during the quarter, compared to analyst estimates of $5.23 million. C4 Therapeutics had a negative net margin of 638.34% and a negative return on equity of 55.30%. As a group, sell-side analysts expect that C4 Therapeutics, Inc. will post -1.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CCCC. JPMorgan Chase & Co. raised shares of C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 price objective on the stock in a report on Monday, January 29th. Morgan Stanley boosted their price objective on shares of C4 Therapeutics to $8.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $13.00 price objective (up previously from $12.00) on shares of C4 Therapeutics in a report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

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, currently under Phase 1/2 clinical trials.