C4 Therapeutics (NASDAQ:CCCC) Reaches New 52-Week High – Here’s Why

C4 Therapeutics, Inc. (NASDAQ:CCCC)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $4.76 and last traded at $4.5890, with a volume of 1095638 shares trading hands. The stock had previously closed at $4.35.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, C4 Therapeutics has an average rating of “Moderate Buy” and an average price target of $7.75.

C4 Therapeutics Price Performance

The stock’s fifty day moving average price is $3.57 and its 200 day moving average price is $2.79. The stock has a market capitalization of $546.75 million, a P/E ratio of -4.20 and a beta of 2.91.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.05. The company had revenue of $6.15 million during the quarter, compared to analysts’ expectations of $4.42 million. C4 Therapeutics had a negative net margin of 297.76% and a negative return on equity of 50.68%. On average, sell-side analysts expect that C4 Therapeutics, Inc. will post -0.87 earnings per share for the current year.

Hedge Funds Weigh In On C4 Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SummitTX Capital L.P. acquired a new position in C4 Therapeutics during the first quarter worth $28,000. CTC Alternative Strategies Ltd. purchased a new position in C4 Therapeutics during the first quarter worth about $28,000. Zacks Investment Management acquired a new position in C4 Therapeutics in the 3rd quarter valued at about $29,000. Delta Investment Management LLC purchased a new stake in shares of C4 Therapeutics in the 4th quarter valued at approximately $38,000. Finally, Virtu Financial LLC acquired a new stake in shares of C4 Therapeutics during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Company Profile

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.