C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $7.25.

Several brokerages have commented on CCCC. TD Cowen initiated coverage on shares of C4 Therapeutics in a research report on Tuesday, December 2nd. They issued a “buy” rating on the stock. Barclays decreased their price target on shares of C4 Therapeutics from $10.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Wednesday, January 21st.

C4 Therapeutics Trading Down 3.1%

CCCC stock opened at $1.90 on Friday. The stock has a market cap of $184.13 million, a P/E ratio of -1.14 and a beta of 2.93. The stock’s fifty day simple moving average is $2.25 and its two-hundred day simple moving average is $2.38. C4 Therapeutics has a 1-year low of $1.09 and a 1-year high of $3.84.

C4 Therapeutics (NASDAQ:CCCC) last released its earnings results on Thursday, November 6th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.03. The company had revenue of $11.23 million for the quarter, compared to analysts’ expectations of $6.28 million. C4 Therapeutics had a negative return on equity of 64.40% and a negative net margin of 395.51%. As a group, analysts forecast that C4 Therapeutics will post -1.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Zacks Investment Management purchased a new stake in C4 Therapeutics in the 3rd quarter worth about $29,000. Dynamic Technology Lab Private Ltd bought a new position in C4 Therapeutics during the second quarter worth about $31,000. Delta Investment Management LLC bought a new position in C4 Therapeutics during the fourth quarter worth about $38,000. Savant Capital LLC purchased a new position in shares of C4 Therapeutics in the second quarter worth about $38,000. Finally, Catalyst Funds Management Pty Ltd bought a new stake in shares of C4 Therapeutics in the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

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.