C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $7.75.

CCCC has been the topic of several analyst reports. Wall Street Zen upgraded C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. upped their price objective on C4 Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. TD Cowen reiterated a “buy” rating on shares of C4 Therapeutics in a research note on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Monday. Finally, Barclays upped their price objective on C4 Therapeutics from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th.

C4 Therapeutics Stock Down 3.3%

Shares of CCCC opened at $2.97 on Friday. C4 Therapeutics has a 12-month low of $1.21 and a 12-month high of $3.82. The firm has a market capitalization of $289.81 million, a price-to-earnings ratio of -2.18 and a beta of 2.85. The stock’s 50-day moving average price is $2.70 and its 200 day moving average price is $2.42.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.25. C4 Therapeutics had a negative return on equity of 53.83% and a negative net margin of 292.08%.The firm had revenue of $11.02 million for the quarter, compared to analyst estimates of $4.48 million. Equities research analysts expect that C4 Therapeutics will post -1.01 EPS for the current year.

Institutional Investors Weigh In On C4 Therapeutics

Several large investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of C4 Therapeutics in the 4th quarter valued at approximately $39,000. Invesco Ltd. grew its stake in shares of C4 Therapeutics by 39.9% in the 4th quarter. Invesco Ltd. now owns 268,350 shares of the company’s stock valued at $513,000 after purchasing an additional 76,530 shares during the period. Quadrature Capital Ltd bought a new stake in shares of C4 Therapeutics in the 4th quarter valued at approximately $254,000. Man Group plc grew its stake 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 valued at $298,000 after purchasing an additional 65,820 shares during the period. Finally, Engineers Gate Manager LP grew 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 during the period. 78.81% of the stock is currently owned by 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.