Orbimed Advisors LLC Reduces Position in C4 Therapeutics, Inc. $CCCC

by · The Markets Daily

Orbimed Advisors LLC decreased its holdings in shares of C4 Therapeutics, Inc. (NASDAQ:CCCC – Free Report) by 39.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 856,353 shares of the company’s stock after selling 548,549 shares during the quarter. Orbimed Advisors LLC’s holdings in C4 Therapeutics were worth $2,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Zacks Investment Management bought a new stake in shares of C4 Therapeutics during the 3rd quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in C4 Therapeutics in the third quarter worth $43,000. Delta Investment Management LLC bought a new stake in shares of C4 Therapeutics during the fourth quarter worth $38,000. Virtu Financial LLC bought a new stake in shares of C4 Therapeutics during the fourth quarter worth $39,000. Finally, Engineers Gate Manager LP boosted its stake in shares of C4 Therapeutics by 49.9% during the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock valued at $47,000 after purchasing an additional 8,130 shares during the period. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, C4 Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Get Our Latest Stock Report on C4 Therapeutics

C4 Therapeutics Price Performance

CCCC opened at $3.40 on Monday. The stock’s fifty day moving average is $3.92 and its two-hundred day moving average is $3.04. The company has a market capitalization of $375.94 million, a P/E ratio of -2.86 and a beta of 2.90. C4 Therapeutics, Inc. has a 52 week low of $1.69 and a 52 week high of $5.17.

C4 Therapeutics (NASDAQ:CCCC – Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.05. The business had revenue of $6.15 million for the quarter, compared to the consensus estimate of $4.42 million. C4 Therapeutics had a negative return on equity of 50.68% and a negative net margin of 297.76%. Equities analysts anticipate that C4 Therapeutics, Inc. will post -0.87 earnings per share for the current year.

C4 Therapeutics Company Profile

(Free Report)

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.

Further Reading

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