C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $10.67.

A number of equities research analysts have weighed in on the company. Stephens initiated coverage on C4 Therapeutics in a research note on Monday, November 18th. They set an “equal weight” rating and a $4.00 price objective for the company. Wells Fargo & Company raised shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $8.00 to $12.00 in a research report on Thursday, December 19th.

Institutional Investors Weigh In On C4 Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CCCC. Point72 Asset Management L.P. boosted its holdings in C4 Therapeutics by 331.4% in the third quarter. Point72 Asset Management L.P. now owns 1,201,848 shares of the company’s stock worth $6,851,000 after purchasing an additional 923,268 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of C4 Therapeutics by 415.8% in the 2nd quarter. Acadian Asset Management LLC now owns 113,436 shares of the company’s stock valued at $524,000 after buying an additional 91,443 shares during the period. Wasatch Advisors LP grew its position in shares of C4 Therapeutics by 17.1% during the 3rd quarter. Wasatch Advisors LP now owns 5,677,368 shares of the company’s stock valued at $32,361,000 after buying an additional 830,218 shares during the last quarter. FMR LLC raised its stake in C4 Therapeutics by 687.0% during the third quarter. FMR LLC now owns 185,941 shares of the company’s stock worth $1,060,000 after acquiring an additional 162,314 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in C4 Therapeutics during the second quarter worth about $881,000. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Trading Up 3.4 %

Shares of CCCC stock opened at $4.00 on Friday. The firm has a fifty day simple moving average of $4.84 and a 200-day simple moving average of $5.41. The company has a market capitalization of $282.36 million, a PE ratio of -2.35 and a beta of 2.92. C4 Therapeutics has a twelve month low of $3.61 and a twelve month high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. The company had revenue of $15.36 million during the quarter, compared to analysts’ expectations of $5.95 million. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. Equities research analysts predict that C4 Therapeutics will post -1.52 EPS for the current 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.