C4 Therapeutics (NASDAQ:CCCC) Given New $8.00 Price Target at Wells Fargo & Company

C4 Therapeutics (NASDAQ:CCCC) had its price target boosted by stock analysts at Wells Fargo & Company from $7.00 to $8.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 20.30% from the stock’s current price.

Several other brokerages have also weighed in on CCCC. Morgan Stanley increased their target price on shares of C4 Therapeutics to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Stifel Nicolaus raised their price target on C4 Therapeutics from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 target price on the stock in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.11.

C4 Therapeutics Stock Performance

Shares of CCCC stock traded up $0.20 on Thursday, hitting $6.65. 761,258 shares of the stock traded hands, compared to its average volume of 3,330,627. C4 Therapeutics has a twelve month low of $1.06 and a twelve month high of $11.88. The firm’s 50-day moving average price is $8.12 and its two-hundred day moving average price is $5.74. The stock has a market capitalization of $457.59 million, a PE ratio of -2.49 and a beta of 3.22.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.01). C4 Therapeutics had a negative return on equity of 55.30% and a negative net margin of 638.34%. The firm had revenue of $3.26 million for the quarter, compared to analyst estimates of $5.23 million. On average, equities research analysts anticipate that C4 Therapeutics will post -1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On C4 Therapeutics

Large investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of C4 Therapeutics during the fourth quarter worth $39,000. FNY Investment Advisers LLC acquired a new position in shares of C4 Therapeutics in the 4th quarter valued at $49,000. Barclays PLC raised its stake in C4 Therapeutics by 30.7% during the 3rd quarter. Barclays PLC now owns 43,614 shares of the company’s stock worth $81,000 after acquiring an additional 10,246 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in C4 Therapeutics by 33.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,322 shares of the company’s stock valued at $92,000 after acquiring an additional 4,063 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in C4 Therapeutics by 214.6% in the third quarter. Citigroup Inc. now owns 57,894 shares of the company’s stock valued at $108,000 after acquiring an additional 39,492 shares in the last quarter. 78.81% of the stock is owned by hedge funds and other 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.