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

C4 Therapeutics, Inc. (NASDAQ:CCCC) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $7.75.

A number of equities analysts have recently weighed in on the company. Barclays upped their target price on C4 Therapeutics from $5.00 to $7.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Wall Street Zen raised C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. upped their target price on C4 Therapeutics from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Monday, April 20th. Finally, TD Cowen reaffirmed a “buy” rating on shares of C4 Therapeutics in a research report on Thursday, February 26th.

Hedge Funds Weigh In On C4 Therapeutics

Institutional investors have recently modified their holdings of the company. Voleon Capital Management LP acquired a new position in shares of C4 Therapeutics during the third quarter worth approximately $63,000. Tower Research Capital LLC TRC grew its holdings in C4 Therapeutics by 458.0% during the second quarter. Tower Research Capital LLC TRC now owns 40,592 shares of the company’s stock worth $58,000 after buying an additional 33,317 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in C4 Therapeutics during the third quarter worth $43,000. Zacks Investment Management bought a new stake in C4 Therapeutics during the third quarter worth $29,000. Finally, Sei Investments Co. bought a new stake in C4 Therapeutics during the first quarter worth $66,000. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Stock Performance

Shares of CCCC stock opened at $3.22 on Tuesday. The company has a market cap of $356.04 million, a P/E ratio of -2.71 and a beta of 2.77. The stock has a 50 day simple moving average of $2.88 and a two-hundred day simple moving average of $2.49. C4 Therapeutics has a fifty-two week low of $1.21 and a fifty-two week high of $3.95.

C4 Therapeutics (NASDAQ:CCCC) last issued its earnings results on Tuesday, May 12th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.05. C4 Therapeutics had a negative return on equity of 50.68% and a negative net margin of 297.76%.The business had revenue of $6.15 million during the quarter, compared to the consensus estimate of $4.42 million. On average, research analysts predict that C4 Therapeutics will post -0.87 earnings per share for the current year.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.