Analysts Set C4 Therapeutics, Inc. (NASDAQ:CCCC) Target Price at $7.75

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $7.75.

A number of research firms have issued reports on CCCC. raised their target price on C4 Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. TD Cowen reaffirmed a “buy” rating on shares of C4 Therapeutics in a report on Thursday, February 26th. Wall Street Zen upgraded shares of C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. Barclays boosted their target price on shares of C4 Therapeutics from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Wednesday, January 21st.

Hedge Funds Weigh In On C4 Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CCCC. Zacks Investment Management acquired a new position in shares of C4 Therapeutics during the third quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in C4 Therapeutics during the third quarter worth approximately $43,000. Delta Investment Management LLC bought a new stake in C4 Therapeutics during the fourth quarter worth approximately $38,000. Virtu Financial LLC acquired a new stake in C4 Therapeutics in the fourth quarter worth approximately $39,000. Finally, Engineers Gate Manager LP lifted its position in C4 Therapeutics by 49.9% in the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock worth $47,000 after purchasing an additional 8,130 shares during the period. Institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Stock Performance

NASDAQ:CCCC opened at $2.92 on Friday. The company has a market capitalization of $284.93 million, a price-to-earnings ratio of -2.15 and a beta of 2.85. C4 Therapeutics has a one year low of $1.20 and a one year high of $3.82. The stock has a 50-day simple moving average of $2.60 and a 200 day simple moving average of $2.40.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.25. The firm had revenue of $11.02 million for the quarter, compared to analysts’ expectations of $4.48 million. C4 Therapeutics had a negative return on equity of 53.83% and a negative net margin of 292.08%. On average, equities research analysts forecast that C4 Therapeutics will post -1.52 EPS for the current fiscal year.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.