C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives Average Recommendation of “Hold” from Analysts

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned an average rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.29.

Separately, BMO Capital Markets restated an “outperform” rating and issued a $20.00 target price on shares of C4 Therapeutics in a research report on Tuesday, August 6th.

C4 Therapeutics Stock Up 1.6 %

Shares of NASDAQ CCCC opened at $6.46 on Wednesday. The stock has a market cap of $444.49 million, a P/E ratio of -2.73 and a beta of 3.05. The firm’s 50-day simple moving average is $6.16 and its 200 day simple moving average is $6.43. C4 Therapeutics has a fifty-two week low of $1.06 and a fifty-two week high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.11. The company had revenue of $12.01 million for the quarter, compared to the consensus estimate of $6.88 million. C4 Therapeutics had a negative net margin of 367.17% and a negative return on equity of 44.60%. On average, sell-side analysts anticipate that C4 Therapeutics will post -1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C4 Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Commodore Capital LP purchased a new stake in shares of C4 Therapeutics during the fourth quarter valued at $21,470,000. Lynx1 Capital Management LP lifted its stake in C4 Therapeutics by 89.3% during the second quarter. Lynx1 Capital Management LP now owns 6,880,527 shares of the company’s stock valued at $31,788,000 after buying an additional 3,245,865 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of C4 Therapeutics by 46.0% in the first quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock worth $23,857,000 after buying an additional 920,627 shares during the period. Wasatch Advisors LP increased its position in shares of C4 Therapeutics by 14.3% in the fourth quarter. Wasatch Advisors LP now owns 7,138,949 shares of the company’s stock worth $40,335,000 after acquiring an additional 891,808 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of C4 Therapeutics in the 2nd quarter valued at approximately $881,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

About C4 Therapeutics

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.