C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Consensus Rating of “Hold” by Analysts

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned a consensus rating of “Hold” from the seven analysts that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $10.13.

CCCC has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on shares of C4 Therapeutics from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Wells Fargo & Company raised their price objective on shares of C4 Therapeutics from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. Finally, Morgan Stanley lifted their target price on shares of C4 Therapeutics to $8.00 and gave the company an “equal weight” rating in a report on Monday, February 26th.

Hedge Funds Weigh In On C4 Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Lynx1 Capital Management LP raised its holdings in C4 Therapeutics by 16.0% in the 1st quarter. Lynx1 Capital Management LP now owns 3,634,662 shares of the company’s stock worth $29,695,000 after acquiring an additional 500,266 shares during the last quarter. Farallon Capital Management LLC purchased a new position in C4 Therapeutics in the 1st quarter worth approximately $229,000. Caxton Associates LP purchased a new position in C4 Therapeutics in the 1st quarter worth approximately $172,000. EntryPoint Capital LLC purchased a new position in C4 Therapeutics in the 1st quarter worth approximately $233,000. Finally, Vanguard Group Inc. raised its holdings in C4 Therapeutics by 46.0% in the 1st quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock worth $23,857,000 after acquiring an additional 920,627 shares during the last quarter. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

C4 Therapeutics Price Performance

NASDAQ CCCC opened at $4.66 on Monday. The stock has a market capitalization of $320.64 million, a PE ratio of -1.97 and a beta of 3.10. C4 Therapeutics has a 1 year low of $1.06 and a 1 year high of $11.88. The business’s 50-day moving average is $6.35 and its 200 day moving average is $6.37.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.41) EPS for the quarter, hitting the consensus estimate of ($0.41). C4 Therapeutics had a negative net margin of 629.24% and a negative return on equity of 52.85%. The business had revenue of $3.04 million during the quarter, compared to analyst estimates of $10.93 million. As a group, equities research analysts anticipate that C4 Therapeutics will post -1.56 earnings per share for the current year.

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.