Brokerages Set C4 Therapeutics, Inc. (NASDAQ:CCCC) Price Target at $9.29

C4 Therapeutics, Inc. (NASDAQ:CCCC) has earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $9.29.

Several equities research analysts have recently commented on the stock. Stifel Nicolaus lifted their price objective on shares of C4 Therapeutics from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Wells Fargo & Company lifted their price target on C4 Therapeutics from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $20.00 price objective on shares of C4 Therapeutics in a report on Tuesday, August 6th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of C4 Therapeutics by 46.0% during the 1st quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock valued at $23,857,000 after purchasing an additional 920,627 shares in the last quarter. Commodore Capital LP purchased a new position in C4 Therapeutics in the fourth quarter valued at $21,470,000. Wasatch Advisors LP raised its position in shares of C4 Therapeutics by 14.3% in the fourth quarter. Wasatch Advisors LP now owns 7,138,949 shares of the company’s stock worth $40,335,000 after acquiring an additional 891,808 shares during the period. Entropy Technologies LP purchased a new stake in shares of C4 Therapeutics during the 1st quarter worth about $126,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of C4 Therapeutics during the 2nd quarter valued at about $660,000. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Stock Performance

C4 Therapeutics stock opened at $6.64 on Friday. The stock has a market cap of $456.87 million, a PE ratio of -2.80 and a beta of 3.06. The stock has a 50-day moving average of $5.56 and a two-hundred day moving average of $6.66. C4 Therapeutics has a one year low of $1.06 and a one year high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.11. The firm had revenue of $12.01 million during the quarter, compared to analyst estimates of $6.88 million. C4 Therapeutics had a negative net margin of 367.17% and a negative return on equity of 44.92%. As a group, sell-side analysts predict that C4 Therapeutics will post -1.56 EPS for the current fiscal 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.