C4 Therapeutics (NASDAQ:CCCC) Price Target Cut to $25.00 by Analysts at HC Wainwright

C4 Therapeutics (NASDAQ:CCCC – Get Rating) had its target price trimmed by HC Wainwright from $35.00 to $25.00 in a research report sent to investors on Monday morning, The Fly reports.

Other research analysts have also issued reports about the stock. Credit Suisse Group upgraded shares of C4 Therapeutics from an underperform rating to a neutral rating and reduced their price objective for the company from $12.00 to $10.00 in a research note on Friday, February 24th. Bank of America lowered their price target on shares of C4 Therapeutics from $11.00 to $5.00 and set a neutral rating for the company in a research note on Tuesday, March 28th. Morgan Stanley decreased their price objective on shares of C4 Therapeutics from $6.00 to $5.00 and set an underweight rating on the stock in a research report on Monday, February 27th. Finally, JPMorgan Chase & Co. cut shares of C4 Therapeutics from a neutral rating to an underweight rating and reduced their price target for the company from $15.00 to $5.00 in a research report on Friday, February 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, C4 Therapeutics presently has an average rating of Hold and an average target price of $9.83.

C4 Therapeutics Stock Down 1.8 %

NASDAQ CCCC opened at $3.23 on Monday. The business has a fifty day moving average price of $3.68 and a two-hundred day moving average price of $6.25. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.46 and a quick ratio of 6.46. C4 Therapeutics has a fifty-two week low of $2.85 and a fifty-two week high of $13.23. The stock has a market capitalization of $158.46 million, a PE ratio of -1.21 and a beta of 2.11.

C4 Therapeutics (NASDAQ:CCCC – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.04). C4 Therapeutics had a negative net margin of 482.83% and a negative return on equity of 41.39%. The company had revenue of $2.85 million during the quarter, compared to analyst estimates of $8.56 million. Equities analysts expect that C4 Therapeutics will post -3.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Utpal Koppikar bought 5,667 shares of the firm’s stock in a transaction on Wednesday, February 8th. The stock was acquired at an average cost of $5.60 per share, with a total value of $31,735.20. Following the transaction, the director now directly owns 5,667 shares in the company, valued at approximately $31,735.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.17% of the stock is currently owned by company insiders.

Institutional Trading of C4 Therapeutics

A number of hedge funds have recently modified their holdings of CCCC. State Street Corp boosted its stake in shares of C4 Therapeutics by 173.8% in the third quarter. State Street Corp now owns 1,961,812 shares of the company’s stock worth $17,205,000 after buying an additional 1,245,369 shares during the last quarter. Soleus Capital Management L.P. raised its holdings in C4 Therapeutics by 69.3% in the 4th quarter. Soleus Capital Management L.P. now owns 2,440,843 shares of the company’s stock worth $14,401,000 after purchasing an additional 999,330 shares during the period. ArrowMark Colorado Holdings LLC raised its holdings in C4 Therapeutics by 14.0% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 5,802,871 shares of the company’s stock worth $34,237,000 after purchasing an additional 710,896 shares during the period. Dimensional Fund Advisors LP raised its holdings in C4 Therapeutics by 1,356.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 379,782 shares of the company’s stock worth $2,241,000 after purchasing an additional 353,704 shares during the period. Finally, Wasatch Advisors Inc. raised its holdings in C4 Therapeutics by 18.8% in the 1st quarter. Wasatch Advisors Inc. now owns 1,538,525 shares of the company’s stock worth $37,325,000 after purchasing an additional 243,063 shares during the period. Hedge funds and other institutional investors own 80.33% of the company’s stock.

About C4 Therapeutics

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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.