C4 Therapeutics (NASDAQ:CCCC) Stock: Insider Kendra Adams Sells 45,173 Shares

C4 Therapeutics, Inc. (NASDAQ:CCCC) CFO Kendra Adams sold 45,173 shares of C4 Therapeutics stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $2.71, for a total value of $122,418.83. Following the completion of the transaction, the chief financial officer directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C4 Therapeutics Stock Performance

Shares of NASDAQ:CCCC traded down $0.01 during midday 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 firm has a market capitalization of $362.44 million, a price-to-earnings ratio of -3.83 and a beta of 3.16. The firm has a 50 day moving average price of $3.13 and a two-hundred day moving average price of $3.24. C4 Therapeutics, Inc. has a fifty-two week low of $1.69 and a fifty-two week high of $5.17.

C4 Therapeutics (NASDAQ:CCCC) last announced its earnings results on Thursday, November 5th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.03. C4 Therapeutics had a negative return on equity of 37.71% and a negative net margin of 282.22%. The company had revenue of $8.47 million for the quarter, compared to analyst estimates of $8.52 million. As a group, research analysts anticipate that C4 Therapeutics, Inc. will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On C4 Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CCCC. China Universal Asset Management Co. Ltd. lifted its holdings in C4 Therapeutics by 27.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 22,447 shares of the company’s stock worth $70,000 after acquiring an additional 4,850 shares during the period. Jefferies Financial Group Inc. bought a new position in C4 Therapeutics in the 3rd quarter valued at $34,000. SummitTX Capital L.P. bought a new position in C4 Therapeutics in the 1st quarter valued at $28,000. CTC Alternative Strategies Ltd. bought a new position in C4 Therapeutics in the 1st quarter valued at $28,000. Finally, Russell Investments Group Ltd. increased its position in shares of C4 Therapeutics by 170.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 21,924 shares of the company’s stock valued at $73,000 after purchasing an additional 13,819 shares during the last quarter. Institutional investors own 78.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CCCC. Guggenheim began coverage on C4 Therapeutics in a research note on Friday, November 6th. They issued a “buy” rating and a $6.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of C4 Therapeutics in a research report on Friday, October 9th. They set an “overweight” rating and a $10.00 price objective for the company. Evercore lowered shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Thursday, October 15th. Finally, Lake Street Capital started coverage on shares of C4 Therapeutics in a research report on Wednesday, October 28th. They set a “buy” rating and a $11.00 target price on the stock. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

About C4 Therapeutics

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.