C4 Therapeutics (NASDAQ:CCCC) Raised to Overweight at Wells Fargo & Company

C4 Therapeutics (NASDAQ:CCCC) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued on Thursday, Marketbeat.com reports. The firm currently has a $12.00 target price on the stock, up from their prior target price of $8.00. Wells Fargo & Company‘s price target points to a potential upside of 203.80% from the stock’s current price.

Separately, Stephens started coverage on shares of C4 Therapeutics in a research note on Monday, November 18th. They set an “equal weight” rating and a $4.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.67.

C4 Therapeutics Trading Up 2.6 %

CCCC stock opened at $3.95 on Thursday. The firm has a market cap of $278.83 million, a PE ratio of -2.32 and a beta of 2.92. The stock has a 50-day moving average price of $5.04 and a 200-day moving average price of $5.44. C4 Therapeutics has a 1-year low of $3.61 and a 1-year high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.05. The firm had revenue of $15.36 million for the quarter, compared to analyst estimates of $5.95 million. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. On average, analysts forecast that C4 Therapeutics will post -1.52 earnings per share for the current year.

Hedge Funds Weigh In On C4 Therapeutics

A number of institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in C4 Therapeutics during the 2nd quarter valued at $45,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of C4 Therapeutics during the second quarter valued at about $51,000. Point72 DIFC Ltd acquired a new position in shares of C4 Therapeutics during the third quarter valued at about $51,000. Cynosure Group LLC bought a new stake in shares of C4 Therapeutics during the third quarter worth about $57,000. Finally, Aigen Investment Management LP acquired a new stake in shares of C4 Therapeutics in the 3rd quarter worth about $82,000. 78.81% of the stock is 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.