C4 Therapeutics (NASDAQ:CCCC) Upgraded by Stephens to Overweight Rating

Stephens upgraded shares of C4 Therapeutics (NASDAQ:CCCC) from an equal weight rating to an overweight rating in a report issued on Monday morning, MarketBeat.com reports. They currently have $6.00 price target on the stock, up from their prior price target of $3.00.

A number of other research analysts have also commented on CCCC. Wall Street Zen lowered C4 Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Guggenheim started coverage on C4 Therapeutics in a research note on Wednesday, September 3rd. They issued a “buy” rating and a $8.00 target price for the company. Finally, Zacks Research lowered C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.67.

C4 Therapeutics Stock Up 34.2%

Shares of CCCC stock opened at $3.57 on Monday. C4 Therapeutics has a 12 month low of $1.09 and a 12 month high of $7.14. The firm has a market cap of $254.08 million, a PE ratio of -2.26 and a beta of 2.98. The stock has a 50 day moving average of $2.41 and a 200-day moving average of $1.88.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.01. C4 Therapeutics had a negative return on equity of 53.91% and a negative net margin of 325.88%.The company had revenue of $6.46 million during the quarter, compared to analyst estimates of $5.24 million. As a group, equities analysts predict that C4 Therapeutics will post -1.52 EPS for the current fiscal year.

Institutional Trading of C4 Therapeutics

A number of large investors have recently bought and sold shares of CCCC. Northern Trust Corp grew its position in C4 Therapeutics by 1.1% in the fourth quarter. Northern Trust Corp now owns 495,043 shares of the company’s stock valued at $1,782,000 after acquiring an additional 5,223 shares during the period. Jane Street Group LLC grew its position in C4 Therapeutics by 49.4% in the fourth quarter. Jane Street Group LLC now owns 152,774 shares of the company’s stock valued at $550,000 after acquiring an additional 50,523 shares during the period. Balyasny Asset Management L.P. grew its position in C4 Therapeutics by 115.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 42,533 shares of the company’s stock valued at $153,000 after acquiring an additional 22,789 shares during the period. Lazard Asset Management LLC bought a new stake in C4 Therapeutics in the fourth quarter valued at $81,000. 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 valued at $1,296,000 after acquiring an additional 338,277 shares during the period. 78.81% of the stock is currently owned by institutional investors.

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.