C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

C4 Therapeutics, Inc. (NASDAQ:CCCC) has earned an average rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $10.25.

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 target price on the stock in a research report on Monday, January 29th. Morgan Stanley upped their price objective on C4 Therapeutics to $8.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $13.00 price objective (up previously from $12.00) on shares of C4 Therapeutics in a research note on Friday, February 23rd.

C4 Therapeutics Stock Performance

Shares of CCCC opened at $6.91 on Friday. C4 Therapeutics has a 52-week low of $1.06 and a 52-week high of $11.88. The business’s 50 day moving average price is $8.56 and its two-hundred day moving average price is $5.25. The firm has a market cap of $474.03 million, a PE ratio of -2.59 and a beta of 3.18.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.01). C4 Therapeutics had a negative net margin of 638.34% and a negative return on equity of 55.30%. The business had revenue of $3.26 million during the quarter, compared to analyst estimates of $5.23 million. Research analysts predict that C4 Therapeutics will post -1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its stake in C4 Therapeutics by 144.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,382 shares of the company’s stock worth $26,000 after purchasing an additional 5,546 shares during the period. Tudor Investment Corp Et Al bought a new position in C4 Therapeutics in the 3rd quarter worth about $28,000. ExodusPoint Capital Management LP bought a new position in C4 Therapeutics in the 1st quarter worth about $33,000. Headlands Technologies LLC bought a new stake in shares of C4 Therapeutics during the 4th quarter valued at about $39,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of C4 Therapeutics during the 4th quarter valued at about $49,000. Institutional investors 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.