C4 Therapeutics (NASDAQ:CCCC) Insider Leonard Reyno Sells 10,000 Shares

C4 Therapeutics, Inc. (NASDAQ:CCCC) insider Leonard Reyno sold 10,000 shares of C4 Therapeutics stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $2.22, for a total transaction of $22,200.00. Following the completion of the transaction, the insider directly owned 156,382 shares in the company, valued at approximately $347,168.04. The trade was a 6.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

C4 Therapeutics Stock Performance

NASDAQ:CCCC traded up $0.02 during midday trading on Friday, reaching $2.24. 1,265,983 shares of the stock traded hands, compared to its average volume of 1,284,244. The stock has a market capitalization of $216.59 million, a PE ratio of -1.34 and a beta of 2.93. C4 Therapeutics, Inc. has a 12-month low of $1.09 and a 12-month high of $4.03. The business has a 50-day moving average of $2.32 and a two-hundred day moving average of $2.35.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.03. C4 Therapeutics had a negative return on equity of 64.40% and a negative net margin of 395.51%.The business had revenue of $11.23 million for the quarter, compared to the consensus estimate of $6.28 million. Research analysts anticipate that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current year.

Institutional Investors Weigh In On C4 Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zacks Investment Management purchased a new stake in shares of C4 Therapeutics in the third quarter worth about $29,000. Dynamic Technology Lab Private Ltd purchased a new stake in C4 Therapeutics in the 2nd quarter worth approximately $31,000. Savant Capital LLC acquired a new stake in shares of C4 Therapeutics during the 2nd quarter worth approximately $38,000. Catalyst Funds Management Pty Ltd purchased a new position in shares of C4 Therapeutics during the 2nd quarter valued at approximately $40,000. Finally, Crestwood Advisors Group LLC acquired a new position in shares of C4 Therapeutics in the 2nd quarter valued at $41,000. 78.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CCCC. Stephens reissued an “overweight” rating and issued a $6.00 price target on shares of C4 Therapeutics in a report on Monday, September 22nd. Wells Fargo & Company lifted their target price on shares of C4 Therapeutics from $5.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 23rd. TD Cowen assumed coverage on shares of C4 Therapeutics in a research report on Tuesday, December 2nd. They set a “buy” rating on the stock. Barclays decreased their price target on shares of C4 Therapeutics from $10.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.25.

About C4 Therapeutics

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.