Brokerages Set C4 Therapeutics, Inc. (NASDAQ:CCCC) Price Target at $7.67

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have received a consensus rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $7.6667.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Friday, July 17th.

C4 Therapeutics Price Performance

Shares of C4 Therapeutics stock opened at $3.39 on Monday. The firm has a market cap of $417.05 million, a price-to-earnings ratio of -3.39 and a beta of 2.94. The business has a 50-day moving average price of $3.75 and a 200-day moving average price of $3.50. C4 Therapeutics has a twelve month low of $1.69 and a twelve month high of $5.17.

C4 Therapeutics (NASDAQ:CCCC) last posted its earnings results on Tuesday, August 11th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%.The company had revenue of $6.64 million for the quarter, compared to the consensus estimate of $4.00 million. On average, equities analysts expect that C4 Therapeutics will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. SummitTX Capital L.P. purchased a new stake in C4 Therapeutics during the first quarter valued at $28,000. CTC Alternative Strategies Ltd. purchased a new position in shares of C4 Therapeutics in the 1st quarter worth $28,000. Sei Investments Co. bought a new stake in shares of C4 Therapeutics in the 1st quarter worth about $66,000. ADAR1 Capital Management LLC bought a new stake in shares of C4 Therapeutics in the 1st quarter worth about $113,000. Finally, Readystate Asset Management LP bought a new stake in shares of C4 Therapeutics in the 1st quarter worth about $130,000. 78.81% of the stock is owned by hedge funds and other institutional investors.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses targeted protein degradation, an approach designed to recruit the body’s natural protein-disposal system to remove specific proteins rather than simply inhibit their activity.

C4 Therapeutics develops its drug candidates through its proprietary TORPEDO platform, which is intended to identify and optimize small-molecule degraders for challenging biological targets.