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

C4 Therapeutics, Inc. (NASDAQ:CCCC) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $12.50.

A number of equities analysts recently weighed in on CCCC shares. Wells Fargo & Company raised C4 Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $8.00 to $12.00 in a report on Thursday, December 19th. Stephens started coverage on C4 Therapeutics in a report on Monday, November 18th. They issued an “equal weight” rating and a $4.00 price target for the company. Finally, UBS Group raised C4 Therapeutics to a “hold” rating in a report on Friday, February 14th.

C4 Therapeutics Stock Down 3.5 %

Shares of CCCC opened at $2.79 on Wednesday. C4 Therapeutics has a 52 week low of $2.69 and a 52 week high of $11.88. The company has a market capitalization of $196.94 million, a price-to-earnings ratio of -1.64 and a beta of 2.95. The stock’s 50-day moving average price is $3.59 and its 200-day moving average price is $4.86.

Institutional Investors Weigh In On C4 Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CCCC. Adage Capital Partners GP L.L.C. increased its holdings in shares of C4 Therapeutics by 198.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock valued at $5,580,000 after purchasing an additional 1,030,000 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of C4 Therapeutics by 331.4% in the third quarter. Point72 Asset Management L.P. now owns 1,201,848 shares of the company’s stock valued at $6,851,000 after purchasing an additional 923,268 shares during the last quarter. Wasatch Advisors LP grew its position in C4 Therapeutics by 17.1% in the third quarter. Wasatch Advisors LP now owns 5,677,368 shares of the company’s stock worth $32,361,000 after acquiring an additional 830,218 shares during the period. Soleus Capital Management L.P. grew its position in C4 Therapeutics by 5.7% in the fourth quarter. Soleus Capital Management L.P. now owns 6,978,942 shares of the company’s stock worth $25,124,000 after acquiring an additional 374,946 shares during the period. Finally, Millennium Management LLC grew its position in C4 Therapeutics by 1,548.3% in the fourth quarter. Millennium Management LLC now owns 360,125 shares of the company’s stock worth $1,296,000 after acquiring an additional 338,277 shares during the period. 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.