C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives $8.71 Consensus Price Target from Brokerages

C4 Therapeutics, Inc. (NASDAQ:CCCC) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $8.71.

CCCC has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on shares of C4 Therapeutics from $13.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Wells Fargo & Company lifted their target price on C4 Therapeutics from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Thursday, May 9th.

Institutional Trading of C4 Therapeutics

A number of hedge funds have recently made changes to their positions in CCCC. Tower Research Capital LLC TRC boosted its holdings in C4 Therapeutics by 33.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,322 shares of the company’s stock valued at $92,000 after acquiring an additional 4,063 shares during the last quarter. Headlands Technologies LLC acquired a new position in C4 Therapeutics in the fourth quarter valued at approximately $39,000. Raymond James & Associates lifted its position in shares of C4 Therapeutics by 10.5% during the 4th quarter. Raymond James & Associates now owns 100,984 shares of the company’s stock valued at $571,000 after acquiring an additional 9,604 shares during the period. Entropy Technologies LP bought a new position in C4 Therapeutics during the first quarter worth $126,000. Finally, Caxton Associates LP acquired a new stake in C4 Therapeutics in the first quarter worth $172,000. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Price Performance

Shares of NASDAQ:CCCC opened at $6.50 on Tuesday. The stock has a market capitalization of $447.27 million, a PE ratio of -2.74 and a beta of 3.07. C4 Therapeutics has a one year low of $1.06 and a one year high of $11.88. The company’s 50-day moving average price is $5.17 and its two-hundred day moving average price is $6.68.

C4 Therapeutics (NASDAQ:CCCC) last issued its earnings results on Wednesday, May 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.41). The business had revenue of $3.04 million during the quarter, compared to the consensus estimate of $10.93 million. C4 Therapeutics had a negative net margin of 629.24% and a negative return on equity of 52.85%. On average, analysts anticipate that C4 Therapeutics will post -1.56 earnings per share for the current fiscal year.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops novel therapeutic candidates to degrade disease-causing proteins for the treatment of cancer, neurodegenerative conditions, and other diseases. Its lead product candidate is CFT7455, an orally bioavailable MonoDAC degrader of protein that is in Phase 1/2 trial targeting IKZF1 and IKZF3 for multiple myeloma and non-Hodgkin lymphomas, including peripheral T-cell lymphoma and mantle cell lymphoma, currently under Phase 1/2 clinical trials.