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

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $7.75.

A number of research analysts have commented on the stock. Barclays raised their price target on shares of C4 Therapeutics from $5.00 to $7.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. TD Cowen reaffirmed a “buy” rating on shares of C4 Therapeutics in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a report on Monday, April 20th. Wall Street Zen raised shares of C4 Therapeutics from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, raised their price objective on shares of C4 Therapeutics from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, February 23rd.

C4 Therapeutics Stock Up 0.8%

Shares of CCCC opened at $3.90 on Friday. The stock has a market cap of $431.22 million, a price-to-earnings ratio of -3.28 and a beta of 2.92. C4 Therapeutics has a 12 month low of $1.36 and a 12 month high of $4.60. The company has a 50-day moving average price of $3.28 and a two-hundred day moving average price of $2.67.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.05. The firm had revenue of $6.15 million during the quarter, compared to analysts’ expectations of $4.42 million. C4 Therapeutics had a negative net margin of 297.76% and a negative return on equity of 50.68%. Equities research analysts expect that C4 Therapeutics will post -0.87 EPS for the current fiscal year.

Institutional Trading of C4 Therapeutics

Several hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP increased its holdings in shares of C4 Therapeutics by 49.9% during the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock worth $47,000 after buying an additional 8,130 shares in the last quarter. SummitTX Capital L.P. acquired a new stake in shares of C4 Therapeutics during the first quarter worth approximately $28,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of C4 Therapeutics during the first quarter worth approximately $28,000. Man Group plc increased its holdings in shares of C4 Therapeutics by 15.0% during the third quarter. Man Group plc now owns 90,278 shares of the company’s stock worth $200,000 after buying an additional 11,791 shares in the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of C4 Therapeutics during the third quarter worth approximately $29,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

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.