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

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $10.25.

Several research firms recently weighed in on CCCC. Morgan Stanley raised their price objective on C4 Therapeutics to $8.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. raised C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 price objective on the stock in a research note on Monday, January 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $13.00 price objective (up from $12.00) on shares of C4 Therapeutics in a research note on Friday, February 23rd.

C4 Therapeutics Stock Performance

CCCC opened at $6.45 on Thursday. The firm has a market cap of $443.82 million, a P/E ratio of -2.42 and a beta of 3.22. C4 Therapeutics has a 52-week low of $1.06 and a 52-week high of $11.88. The business’s fifty day moving average is $8.21 and its 200-day moving average is $5.73.

C4 Therapeutics (NASDAQ:CCCC) last released its earnings results on Thursday, February 22nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.01). The company had revenue of $3.26 million for the quarter, compared to analyst estimates of $5.23 million. C4 Therapeutics had a negative return on equity of 55.30% and a negative net margin of 638.34%. On average, research analysts predict that C4 Therapeutics will post -1.86 earnings per share for the current fiscal year.

Institutional Trading of C4 Therapeutics

Several institutional investors have recently modified their holdings of the business. Raymond James & Associates increased its holdings in C4 Therapeutics by 8.5% in the third quarter. Raymond James & Associates now owns 91,380 shares of the company’s stock valued at $170,000 after purchasing an additional 7,146 shares during the period. M&T Bank Corp acquired a new stake in C4 Therapeutics in the third quarter valued at $260,000. Barclays PLC increased its holdings in C4 Therapeutics by 30.7% in the third quarter. Barclays PLC now owns 43,614 shares of the company’s stock valued at $81,000 after purchasing an additional 10,246 shares during the period. Lynx1 Capital Management LP acquired a new stake in C4 Therapeutics in the third quarter valued at $1,896,000. Finally, Citigroup Inc. increased its holdings in C4 Therapeutics by 214.6% in the third quarter. Citigroup Inc. now owns 57,894 shares of the company’s stock valued at $108,000 after purchasing an additional 39,492 shares during the period. Institutional investors own 78.81% of the company’s stock.

About C4 Therapeutics

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.