C4 Therapeutics (NASDAQ:CCCC) Stock Rating Upgraded by Wells Fargo & Company

Wells Fargo & Company upgraded shares of C4 Therapeutics (NASDAQ:CCCC) from an equal weight rating to an overweight rating in a research note issued to investors on Thursday morning, Marketbeat reports. They currently have $12.00 target price on the stock, up from their prior target price of $8.00.

Separately, Stephens initiated coverage on C4 Therapeutics in a research note on Monday, November 18th. They set an “equal weight” rating and a $4.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, C4 Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $10.67.

C4 Therapeutics Stock Performance

Shares of NASDAQ CCCC opened at $3.85 on Thursday. The company has a market capitalization of $271.77 million, a PE ratio of -2.26 and a beta of 2.92. The company’s fifty day moving average price is $5.07 and its 200 day moving average price is $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 posted its earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.05. The business had revenue of $15.36 million for the quarter, compared to analyst estimates of $5.95 million. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. On average, equities analysts expect that C4 Therapeutics will post -1.52 EPS for the current year.

Institutional Trading of C4 Therapeutics

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in shares of C4 Therapeutics during the 2nd quarter worth approximately $881,000. Hussman Strategic Advisors Inc. purchased a new position in C4 Therapeutics during the second quarter worth approximately $194,000. Rhumbline Advisers boosted its stake in C4 Therapeutics by 4,959.8% during the second quarter. Rhumbline Advisers now owns 90,621 shares of the company’s stock worth $419,000 after buying an additional 88,830 shares during the last quarter. Acadian Asset Management LLC grew its holdings in C4 Therapeutics by 415.8% in the 2nd quarter. Acadian Asset Management LLC now owns 113,436 shares of the company’s stock valued at $524,000 after buying an additional 91,443 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in C4 Therapeutics in the 2nd quarter valued at $45,000. 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.