C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives Average Rating of “Moderate Buy” from Analysts

C4 Therapeutics, Inc. (NASDAQ:CCCC) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $10.67.

Several research firms have commented on CCCC. Stephens initiated coverage on shares of C4 Therapeutics in a research note on Monday, November 18th. They set an “equal weight” rating and a $4.00 target price on the stock. Wells Fargo & Company upgraded shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $12.00 in a research note on Thursday, December 19th.

C4 Therapeutics Price Performance

Shares of CCCC stock opened at $4.00 on Friday. C4 Therapeutics has a 12-month low of $3.61 and a 12-month high of $11.88. The firm has a market capitalization of $282.36 million, a price-to-earnings ratio of -2.35 and a beta of 2.92. The business has a 50 day simple moving average of $4.84 and a 200 day simple moving average of $5.41.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.05. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. The company had revenue of $15.36 million during the quarter, compared to analysts’ expectations of $5.95 million. On average, equities analysts anticipate that C4 Therapeutics will post -1.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in shares of C4 Therapeutics during the 2nd quarter valued at $45,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of C4 Therapeutics during the second quarter worth $51,000. Point72 DIFC Ltd purchased a new stake in shares of C4 Therapeutics during the third quarter valued at $51,000. Cynosure Group LLC acquired a new position in shares of C4 Therapeutics in the 3rd quarter valued at $57,000. Finally, Aigen Investment Management LP purchased a new position in C4 Therapeutics in the 3rd quarter worth about $82,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

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.