C4 Therapeutics (NASDAQ:CCCC) Price Target Raised to $30.00

C4 Therapeutics (NASDAQ:CCCC) had its price objective lifted by Brookline Capital Acquisition from $20.00 to $30.00 in a research report sent to investors on Monday morning, Marketbeat Ratings reports. Brookline Capital Acquisition currently has a buy rating on the stock.

Several other research firms also recently issued reports on CCCC. TD Cowen started coverage on shares of C4 Therapeutics in a research note on Tuesday, December 2nd. They issued a “buy” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Wednesday, January 21st. Finally, Barclays reduced their price objective on C4 Therapeutics from $10.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

C4 Therapeutics Stock Up 15.9%

Shares of C4 Therapeutics stock opened at $2.77 on Monday. C4 Therapeutics has a 52 week low of $1.09 and a 52 week high of $3.65. The firm’s 50 day moving average is $2.06 and its two-hundred day moving average is $2.35. The firm has a market capitalization of $268.44 million, a P/E ratio of -1.66 and a beta of 2.96.

Institutional Investors Weigh In On C4 Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CCCC. AQR Capital Management LLC increased its holdings in shares of C4 Therapeutics by 957.6% in the 1st quarter. AQR Capital Management LLC now owns 140,532 shares of the company’s stock valued at $225,000 after purchasing an additional 127,244 shares in the last quarter. Goldman Sachs Group Inc. grew its position in C4 Therapeutics by 8.6% during the first quarter. Goldman Sachs Group Inc. now owns 622,720 shares of the company’s stock worth $996,000 after buying an additional 49,065 shares during the period. Acadian Asset Management LLC purchased a new position in C4 Therapeutics in the first quarter valued at about $43,000. Brookstone Capital Management purchased a new position in C4 Therapeutics in the second quarter valued at about $42,000. Finally, R Squared Ltd acquired a new stake in shares of C4 Therapeutics during the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds 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.