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

C4 Therapeutics (NASDAQ:CCCC) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Thursday,Finviz reports. The firm currently has a $12.00 price objective on the stock, up from their previous price objective of $8.00. Wells Fargo & Company‘s price target would suggest a potential upside of 228.77% from the company’s current price.

Separately, Stephens began coverage on C4 Therapeutics in a research report on Monday, November 18th. They issued an “equal weight” rating and a $4.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.67.

C4 Therapeutics Stock Down 9.9 %

CCCC opened at $3.65 on Thursday. The firm has a 50-day moving average price of $5.10 and a 200-day moving average price of $5.45. C4 Therapeutics has a twelve month low of $3.61 and a twelve month high of $11.88. The company has a market capitalization of $257.65 million, a price-to-earnings ratio of -2.15 and a beta of 2.92.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. The business had revenue of $15.36 million during the quarter, compared to analyst estimates of $5.95 million. On average, sell-side analysts expect that C4 Therapeutics will post -1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On C4 Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. lifted its position in C4 Therapeutics by 331.4% during the third quarter. Point72 Asset Management L.P. now owns 1,201,848 shares of the company’s stock valued at $6,851,000 after purchasing an additional 923,268 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of C4 Therapeutics by 415.8% during 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. Wasatch Advisors LP lifted its holdings in shares of C4 Therapeutics by 17.1% during the 3rd quarter. Wasatch Advisors LP now owns 5,677,368 shares of the company’s stock worth $32,361,000 after acquiring an additional 830,218 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in C4 Therapeutics in the second quarter worth $881,000. Finally, FMR LLC increased its stake in C4 Therapeutics by 687.0% in the third quarter. FMR LLC now owns 185,941 shares of the company’s stock valued at $1,060,000 after acquiring an additional 162,314 shares during the last quarter. Hedge funds and other institutional investors own 78.81% of the company’s stock.

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.