Lynx1 Capital Management LP recently announced the acquisition of new stake in C4 Therapeutics Inc (NASDAQ:CCCC). The institutional investor has increased its shareholding in the Healthcare company by 206.33% to 3.12 million shares with purchase of 2.1 million shares. This fresh investment now brings its stake to 6.34% valued currently at $5.09 million. In addition, ArrowMark Colorado Holdings LLC raised its holdings by 2.07 million to 2.38 million shares. And Aquilo Capital Management LLC has lifted its position by 161.66% or 1.23 million shares – to 1.99 million shares.
With over 85.12 million C4 Therapeutics Inc (CCCC) shares trading Friday and a closing price of $4.95 on the day, the dollar volume was approximately $421.34 million. The shares have shown a positive half year performance of 46.88% and its price on 12/15/23 lost nearly -1.20%. Currently, there are 48.97M common shares owned by the public and among those 41.93M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 49 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 36 of these insider trades were purchases, accounting for 390,234 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 17,556 shares.
The top 3 mutual fund holders in C4 Therapeutics Inc are Wasatch Ultra Growth Fund, T Rowe Price New Horizons Fund, and Vanguard Total Stock Market ETF. Wasatch Ultra Growth Fund owns 3.01 million shares of the company’s stock, all valued at over $4.9 million. The company bought an additional 1.67 million shares recently to bring their total holdings to about 6.10% of the shares outstanding. T Rowe Price New Horizons Fund sold 606.0 shares to see its total holdings shrink to 1.76 million shares valued at over $2.88 million and representing 3.58% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 2.57% of the shares outstanding.
Shares of C4 Therapeutics Inc (NASDAQ: CCCC) opened at $5.58, up $0.57 from a prior closing price of $5.01. However, the script later moved the day high at 6.4100, down -1.20%. The company’s stock has a 5-day price change of 280.77% and 130.23% over the past three months. CCCC shares are trading -16.10% year to date (YTD), with the 12-month market performance down to -39.56% lower. It has a 12-month low price of $1.06 and touched a high of $9.41 over the same period. CCCC has an average intraday trading volume of 9.43 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 157.41%, 177.22%, and 71.85% respectively.
Institutional ownership of C4 Therapeutics Inc (NASDAQ: CCCC) shares accounts for 73.63% of the company’s 48.97M shares outstanding. Mutual fund holders own 25.65%, while other institutional holders and individual stakeholders account for 42.17% and 17.98% respectively.
It has a market capitalization of $243.94M and a beta (3y monthly) value of 2.66. The earnings-per-share (ttm) stands at -$2.75. Price movements for the stock have been influenced by the stock’s volatility, which stands at 52.30% over the week and 21.72% over the month.
Analysts forecast that C4 Therapeutics Inc (CCCC) will achieve an EPS of -$0.65 for the current quarter, -$0.57 for the next quarter and -$2.48 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.87 while analysts give the company a high EPS estimate of -$0.44. Comparatively, EPS for the current quarter was -$0.77 a year ago. Earnings per share for the fiscal year are expected to increase by 3.96%, and 0.41% over the next financial year. EPS should grow at an annualized rate of 22.30% over the next five years, compared to -46.29% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate C4 Therapeutics Inc (CCCC) as a “Strong Buy” at a consensus score of 1.73. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 2 of the 11 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the CCCC, a number of firms have released research notes about the stock. Stifel stated their Buy rating for the stock in a research note on December 13, 2023, with the firm’s price target at $2-$12.
