C4 Therapeutics, Inc. (NASDAQ:CCCC – Get Free Report)’s share price fell 2% on Thursday . The company traded as low as $7.87 and last traded at $7.89. 60,298 shares traded hands during trading, a decline of 99% from the average session volume of 4,289,228 shares. The stock had previously closed at $8.05.
Analyst Ratings Changes
Several equities analysts recently commented on the company. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 target price (up previously from $12.00) on shares of C4 Therapeutics in a report on Friday, February 23rd. Morgan Stanley increased their target price on C4 Therapeutics to $8.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. upgraded shares of C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 price objective for the company in a research note on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, C4 Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $10.25.
View Our Latest Stock Analysis on CCCC
C4 Therapeutics Price Performance
C4 Therapeutics (NASDAQ:CCCC – Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.01). C4 Therapeutics had a negative return on equity of 55.30% and a negative net margin of 638.34%. The business had revenue of $3.26 million for the quarter, compared to analyst estimates of $5.23 million. On average, analysts anticipate that C4 Therapeutics, Inc. will post -1.86 earnings per share for the current year.
Institutional Investors Weigh In On C4 Therapeutics
Several hedge funds have recently made changes to their positions in CCCC. Commodore Capital LP acquired a new stake in shares of C4 Therapeutics during the fourth quarter worth about $21,470,000. Point72 Asset Management L.P. lifted its position in C4 Therapeutics by 12,142.4% in the fourth quarter. Point72 Asset Management L.P. now owns 1,961,359 shares of the company’s stock valued at $11,082,000 after purchasing an additional 1,945,338 shares during the period. Balyasny Asset Management L.P. acquired a new stake in C4 Therapeutics in the fourth quarter valued at about $9,629,000. State Street Corp lifted its position in C4 Therapeutics by 173.8% in the third quarter. State Street Corp now owns 1,961,812 shares of the company’s stock valued at $17,205,000 after purchasing an additional 1,245,369 shares during the period. Finally, Lynx1 Capital Management LP acquired a new stake in C4 Therapeutics in the third quarter valued at about $1,896,000. Institutional investors and hedge funds own 78.81% of the company’s stock.
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.
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