C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives $7.25 Consensus PT from Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been given a consensus rating of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $7.25.

CCCC has been the topic of several recent research reports. Stephens reaffirmed an “overweight” rating and set a $6.00 target price on shares of C4 Therapeutics in a research report on Monday, September 22nd. TD Cowen assumed coverage on C4 Therapeutics in a research note on Tuesday, December 2nd. They set a “buy” rating for the company. Barclays decreased their price target on shares of C4 Therapeutics from $10.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Wells Fargo & Company lifted their price objective on shares of C4 Therapeutics from $5.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Wednesday, October 8th.

C4 Therapeutics Price Performance

Shares of C4 Therapeutics stock opened at $2.14 on Wednesday. The stock has a market cap of $207.39 million, a price-to-earnings ratio of -1.28 and a beta of 2.93. The firm’s 50-day moving average is $2.33 and its two-hundred day moving average is $2.33. C4 Therapeutics has a 1 year low of $1.09 and a 1 year high of $4.07.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.03. C4 Therapeutics had a negative net margin of 395.51% and a negative return on equity of 64.40%. The business had revenue of $11.23 million during the quarter, compared to analyst estimates of $6.28 million. On average, equities analysts expect that C4 Therapeutics will post -1.52 earnings per share for the current year.

Institutional Trading of C4 Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of C4 Therapeutics in the third quarter worth about $43,000. Jacobs Levy Equity Management Inc. boosted its position in C4 Therapeutics by 13.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 503,145 shares of the company’s stock valued at $1,117,000 after buying an additional 61,410 shares during the last quarter. Voleon Capital Management LP acquired a new position in C4 Therapeutics in the 3rd quarter worth approximately $63,000. Qube Research & Technologies Ltd purchased a new position in C4 Therapeutics during the 3rd quarter worth approximately $257,000. Finally, Bank of America Corp DE lifted its stake in C4 Therapeutics by 2.2% during the 3rd quarter. Bank of America Corp DE now owns 2,053,162 shares of the company’s stock valued at $4,558,000 after acquiring an additional 45,158 shares during the period. 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.