C4 Therapeutics (NASDAQ:CCCC) Coverage Initiated by Analysts at TD Cowen

TD Cowen started coverage on shares of C4 Therapeutics (NASDAQ:CCCC) in a research report report published on Tuesday, Marketbeat reports. The firm issued a buy rating on the stock.

CCCC has been the subject of several other research reports. Barclays boosted their price objective on C4 Therapeutics from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Wednesday, October 8th. Zacks Research downgraded shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 22nd. Stephens reiterated an “overweight” rating and set a $6.00 price objective on shares of C4 Therapeutics in a report on Monday, September 22nd. Finally, Wall Street Zen downgraded shares of C4 Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, C4 Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

C4 Therapeutics Stock Performance

Shares of CCCC stock opened at $2.43 on Tuesday. C4 Therapeutics has a fifty-two week low of $1.09 and a fifty-two week high of $5.10. The stock has a 50 day simple moving average of $2.40 and a two-hundred day simple moving average of $2.20. The company has a market cap of $235.49 million, a P/E ratio of -1.46 and a beta of 2.87.

C4 Therapeutics (NASDAQ:CCCC) last issued its earnings results on Thursday, November 6th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.03. C4 Therapeutics had a negative return on equity of 64.40% and a negative net margin of 395.51%.The company had revenue of $11.23 million during the quarter, compared to the consensus estimate of $6.28 million. On average, research analysts predict that C4 Therapeutics will post -1.52 earnings per share for the current year.

Institutional Investors Weigh In On C4 Therapeutics

A number of hedge funds have recently made changes to their positions in CCCC. Jacobs Levy Equity Management Inc. purchased a new stake in C4 Therapeutics in the first quarter worth $1,116,000. Nuveen LLC purchased a new position in shares of C4 Therapeutics in the first quarter worth about $308,000. Deutsche Bank AG bought a new stake in C4 Therapeutics during the 1st quarter valued at $74,000. XTX Topco Ltd bought a new stake in shares of C4 Therapeutics during the 1st quarter valued at $64,000. Finally, Brookstone Capital Management purchased a new stake in shares of C4 Therapeutics in the second quarter worth about $42,000. 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.