C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $10.67.

A number of research firms recently issued reports on CCCC. Wells Fargo & Company raised 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 report on Thursday, December 19th. Stephens began coverage on C4 Therapeutics in a report on Monday, November 18th. They issued an “equal weight” rating and a $4.00 price target for the company.

C4 Therapeutics Price Performance

C4 Therapeutics stock opened at $3.94 on Tuesday. The stock has a fifty day moving average price of $4.14 and a two-hundred day moving average price of $5.34. C4 Therapeutics has a 52-week low of $3.38 and a 52-week high of $11.88. The firm has a market capitalization of $278.12 million, a P/E ratio of -2.32 and a beta of 2.96.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, beating 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 business had revenue of $15.36 million during the quarter, compared to analysts’ expectations of $5.95 million. On average, equities research analysts predict that C4 Therapeutics will post -1.52 EPS for the current fiscal year.

Institutional Trading of C4 Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. raised its holdings in C4 Therapeutics by 18.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 227,147 shares of the company’s stock worth $818,000 after purchasing an additional 34,783 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of C4 Therapeutics during the 3rd quarter worth about $202,000. Barclays PLC grew its position in shares of C4 Therapeutics by 38.4% during the 3rd quarter. Barclays PLC now owns 243,457 shares of the company’s stock worth $1,387,000 after buying an additional 67,546 shares during the period. Geode Capital Management LLC grew its position in shares of C4 Therapeutics by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,369,676 shares of the company’s stock worth $7,809,000 after buying an additional 7,460 shares during the period. Finally, Vestcor Inc acquired a new position in shares of C4 Therapeutics during the 3rd quarter worth about $168,000. 78.81% of the stock is owned by institutional investors.

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.