C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives $11.80 Average PT from Analysts

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $12.20.

CCCC has been the topic of a number of recent analyst reports. TD Cowen reissued a “buy” rating on shares of C4 Therapeutics in a research note on Thursday. Wall Street Zen upgraded C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday. Brookline Capital Acquisition increased 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 restated a “sell (d-)” rating on shares of C4 Therapeutics in a report on Wednesday, January 21st. Finally, Barclays upped their price objective on shares of C4 Therapeutics from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Thursday.

C4 Therapeutics Trading Down 2.9%

Shares of CCCC stock opened at $2.70 on Thursday. The company has a market capitalization of $261.66 million, a price-to-earnings ratio of -1.99 and a beta of 2.96. The firm has a 50-day moving average price of $2.09 and a 200 day moving average price of $2.36. C4 Therapeutics has a twelve month low of $1.09 and a twelve month high of $3.65.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.25. C4 Therapeutics had a negative net margin of 292.08% and a negative return on equity of 60.16%. The business had revenue of $11.02 million during the quarter, compared to analyst estimates of $4.48 million. As a group, research analysts predict that C4 Therapeutics will post -1.52 earnings per share for the current year.

Institutional Trading of C4 Therapeutics

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in shares of C4 Therapeutics in the 4th quarter worth $39,000. Invesco Ltd. increased its stake in C4 Therapeutics by 39.9% during the fourth quarter. Invesco Ltd. now owns 268,350 shares of the company’s stock worth $513,000 after acquiring an additional 76,530 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in C4 Therapeutics during the fourth quarter worth about $254,000. Man Group plc raised its holdings in shares of C4 Therapeutics by 72.9% in the 4th quarter. Man Group plc now owns 156,098 shares of the company’s stock worth $298,000 after purchasing an additional 65,820 shares during the period. Finally, Engineers Gate Manager LP lifted its stake in shares of C4 Therapeutics by 49.9% in the 4th quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock valued at $47,000 after purchasing an additional 8,130 shares in the last quarter. 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 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.