Analysts Set C4 Therapeutics, Inc. (NASDAQ:CCCC) Target Price at $11.60

C4 Therapeutics, Inc. (NASDAQ:CCCC) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $12.50.

Several analysts have recently issued reports on the stock. UBS Group upgraded shares of C4 Therapeutics to a “hold” rating in a research report on Friday, February 14th. Stephens began coverage on shares of C4 Therapeutics in a report on Monday, November 18th. They set an “equal weight” rating and a $4.00 price target on the stock. Finally, Wells Fargo & Company upgraded shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $8.00 to $12.00 in a report on Thursday, December 19th.

Hedge Funds Weigh In On C4 Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CCCC. Sei Investments Co. bought a new position in shares of C4 Therapeutics during the fourth quarter valued at approximately $45,000. Point72 DIFC Ltd bought a new position in shares of C4 Therapeutics during the third quarter valued at approximately $51,000. Kazazian Asset Management LLC bought a new position in shares of C4 Therapeutics during the fourth quarter valued at approximately $51,000. China Universal Asset Management Co. Ltd. bought a new position in shares of C4 Therapeutics during the fourth quarter valued at approximately $54,000. Finally, Cynosure Group LLC bought a new position in shares of C4 Therapeutics during the third quarter valued at approximately $57,000. 78.81% of the stock is currently owned by institutional investors.

C4 Therapeutics Trading Down 3.5 %

Shares of NASDAQ CCCC opened at $2.79 on Wednesday. The firm’s 50-day moving average price is $3.59 and its 200-day moving average price is $4.86. The stock has a market capitalization of $196.94 million, a price-to-earnings ratio of -1.64 and a beta of 2.95. C4 Therapeutics has a 12-month low of $2.69 and a 12-month high of $11.88.

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.