Brokerages Set C4 Therapeutics, Inc. (NASDAQ:CCCC) Target Price at $10.13

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $10.13.

A number of research firms have weighed in on CCCC. Stifel Nicolaus upped their price target on C4 Therapeutics from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Wells Fargo & Company raised their price target on shares of C4 Therapeutics from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th.

Hedge Funds Weigh In On C4 Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CCCC. Commodore Capital LP bought a new stake in shares of C4 Therapeutics in the fourth quarter worth $21,470,000. Vanguard Group Inc. grew its position in shares of C4 Therapeutics by 46.0% in the 1st quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock worth $23,857,000 after acquiring an additional 920,627 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of C4 Therapeutics by 14.3% in the 4th quarter. Wasatch Advisors LP now owns 7,138,949 shares of the company’s stock valued at $40,335,000 after acquiring an additional 891,808 shares during the last quarter. Lynx1 Capital Management LP raised its position in shares of C4 Therapeutics by 16.0% during the 1st quarter. Lynx1 Capital Management LP now owns 3,634,662 shares of the company’s stock valued at $29,695,000 after acquiring an additional 500,266 shares in the last quarter. Finally, Bellevue Group AG bought a new position in C4 Therapeutics during the fourth quarter worth $350,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

C4 Therapeutics Trading Down 6.8 %

Shares of CCCC stock opened at $4.52 on Friday. The company has a market cap of $311.00 million, a PE ratio of -1.91 and a beta of 3.07. The company’s fifty day simple moving average is $5.38 and its 200-day simple moving average is $6.65. C4 Therapeutics has a 52 week low of $1.06 and a 52 week high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.41) EPS for the quarter, meeting the consensus estimate of ($0.41). C4 Therapeutics had a negative return on equity of 52.85% and a negative net margin of 629.24%. The company had revenue of $3.04 million for the quarter, compared to analyst estimates of $10.93 million. Equities research analysts expect that C4 Therapeutics will post -1.56 EPS for the current fiscal year.

C4 Therapeutics Company Profile

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.