Analysts Set C4 Therapeutics, Inc. (NASDAQ:CCCC) Target Price at $8.50

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $8.50.

Several equities analysts have recently commented on the stock. Barclays boosted their price target on shares of C4 Therapeutics from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Guggenheim assumed coverage on shares of C4 Therapeutics in a report on Wednesday, September 3rd. They set a “buy” rating and a $8.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of C4 Therapeutics from $5.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, September 23rd. Wall Street Zen cut shares of C4 Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Zacks Research cut shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 22nd.

C4 Therapeutics Stock Down 3.2%

C4 Therapeutics stock opened at $2.15 on Monday. The company’s fifty day simple moving average is $2.53 and its 200-day simple moving average is $1.92. C4 Therapeutics has a 12 month low of $1.09 and a 12 month high of $7.14. The stock has a market cap of $153.02 million, a P/E ratio of -1.36 and a beta of 2.95.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.01. C4 Therapeutics had a negative net margin of 325.88% and a negative return on equity of 53.91%. The business had revenue of $6.46 million for the quarter, compared to analysts’ expectations of $5.24 million. On average, equities research analysts expect that C4 Therapeutics will post -1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On C4 Therapeutics

Large investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. bought a new stake in C4 Therapeutics in the first quarter worth $1,116,000. Millennium Management LLC boosted its holdings in C4 Therapeutics by 1,548.3% in the fourth quarter. Millennium Management LLC now owns 360,125 shares of the company’s stock worth $1,296,000 after purchasing an additional 338,277 shares in the last quarter. SG Americas Securities LLC bought a new stake in C4 Therapeutics in the first quarter worth $680,000. Nuveen Asset Management LLC boosted its holdings in C4 Therapeutics by 6.4% in the fourth quarter. Nuveen Asset Management LLC now owns 192,424 shares of the company’s stock worth $693,000 after purchasing an additional 11,571 shares in the last quarter. Finally, Nuveen LLC bought a new stake in C4 Therapeutics in the first quarter worth $308,000. 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.