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

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned an average rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $10.67.

Several equities research analysts have commented on the stock. Stephens assumed coverage on shares of C4 Therapeutics in a research report on Monday, November 18th. They set an “equal weight” rating and a $4.00 target price on the stock. Wells Fargo & Company upgraded shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $8.00 to $12.00 in a research report on Thursday.

C4 Therapeutics Stock Up 5.5 %

Shares of NASDAQ:CCCC opened at $3.85 on Friday. C4 Therapeutics has a 52 week low of $3.61 and a 52 week high of $11.88. The company has a 50-day moving average price of $5.07 and a 200 day moving average price of $5.44. The company has a market cap of $271.77 million, a P/E ratio of -2.26 and a beta of 2.92.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.05. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. The business had revenue of $15.36 million during the quarter, compared to analysts’ expectations of $5.95 million. Analysts expect that C4 Therapeutics will post -1.52 EPS for the current year.

Institutional Trading of C4 Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CCCC. Geode Capital Management LLC raised its position in shares of C4 Therapeutics by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,369,676 shares of the company’s stock worth $7,809,000 after purchasing an additional 7,460 shares during the last quarter. Point72 DIFC Ltd purchased a new position in C4 Therapeutics during the third quarter worth $51,000. Headlands Technologies LLC acquired a new position in shares of C4 Therapeutics in the second quarter worth $45,000. Cynosure Group LLC purchased a new stake in shares of C4 Therapeutics in the third quarter valued at $57,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of C4 Therapeutics during the second quarter valued at $51,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Company Profile

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.