C4 Therapeutics (NASDAQ:CCCC) Stock Price Down 2%

C4 Therapeutics, Inc. (NASDAQ:CCCC)’s share price fell 2% during trading on Thursday . The company traded as low as $7.87 and last traded at $7.89. 60,298 shares were traded during trading, a decline of 99% from the average session volume of 4,289,228 shares. The stock had previously closed at $8.05.

Analysts Set New Price Targets

A number of brokerages recently commented on CCCC. JPMorgan Chase & Co. upgraded C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 price objective on the stock in a research report on Monday, January 29th. Morgan Stanley raised their target price on C4 Therapeutics to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $13.00 target price (up previously from $12.00) on shares of C4 Therapeutics in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.25.

C4 Therapeutics Stock Performance

The stock has a market capitalization of $560.46 million, a price-to-earnings ratio of -3.00 and a beta of 3.24. The company has a 50 day moving average of $7.97 and a 200 day moving average of $4.66.

C4 Therapeutics (NASDAQ:CCCC) last released its earnings results on Thursday, February 22nd. The company reported ($0.68) EPS 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 company had revenue of $3.26 million for the quarter, compared to analyst estimates of $5.23 million. As a group, research analysts expect that C4 Therapeutics, Inc. will post -1.86 EPS for the current fiscal year.

Institutional Trading of C4 Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in C4 Therapeutics by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 1,999,401 shares of the company’s stock worth $11,297,000 after buying an additional 74,545 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in C4 Therapeutics by 17.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,558,480 shares of the company’s stock worth $14,457,000 after buying an additional 372,021 shares during the last quarter. Commodore Capital LP purchased a new stake in C4 Therapeutics during the 4th quarter worth about $21,470,000. Point72 Asset Management L.P. lifted its holdings in C4 Therapeutics by 12,142.4% during the 4th quarter. Point72 Asset Management L.P. now owns 1,961,359 shares of the company’s stock worth $11,082,000 after buying an additional 1,945,338 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in C4 Therapeutics by 356.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 311,377 shares of the company’s stock worth $1,759,000 after buying an additional 243,230 shares during the last quarter. 78.81% of the stock is owned by hedge funds and other institutional investors.

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.