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

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have received an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $10.67.

Several equities research analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $8.00 to $12.00 in a research note on Thursday, December 19th. Stephens initiated coverage on C4 Therapeutics in a report on Monday, November 18th. They set an “equal weight” rating and a $4.00 target price on the stock.

Institutional Investors Weigh In On C4 Therapeutics

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

C4 Therapeutics Price Performance

CCCC stock opened at $3.50 on Tuesday. The stock has a market capitalization of $247.06 million, a P/E ratio of -2.06 and a beta of 2.96. C4 Therapeutics has a fifty-two week low of $3.38 and a fifty-two week high of $11.88. The business has a 50-day moving average of $4.31 and a 200-day moving average of $5.36.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $15.36 million during the quarter, compared to the consensus estimate of $5.95 million. Equities analysts expect that C4 Therapeutics will post -1.52 EPS for the current year.

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.