C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Average Recommendation of “Moderate Buy” by Brokerages

C4 Therapeutics, Inc. (NASDAQ:CCCC) has received an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $11.80.

CCCC has been the subject of several analyst reports. Barclays reduced their target price on C4 Therapeutics from $10.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Brookline Capital Acquisition boosted their price objective on shares of C4 Therapeutics from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Wednesday, January 21st. Finally, TD Cowen assumed coverage on shares of C4 Therapeutics in a research report on Tuesday, December 2nd. They set a “buy” rating for the company.

C4 Therapeutics Price Performance

NASDAQ CCCC opened at $2.77 on Thursday. C4 Therapeutics has a fifty-two week low of $1.09 and a fifty-two week high of $3.65. The stock’s 50-day moving average is $2.06 and its two-hundred day moving average is $2.35. The firm has a market cap of $268.44 million, a P/E ratio of -1.66 and a beta of 2.96.

Institutional Trading of C4 Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in C4 Therapeutics in the 4th quarter worth approximately $39,000. Invesco Ltd. grew its stake in shares of C4 Therapeutics by 39.9% in the fourth quarter. Invesco Ltd. now owns 268,350 shares of the company’s stock worth $513,000 after acquiring an additional 76,530 shares during the last quarter. Quadrature Capital Ltd bought a new position in C4 Therapeutics during the fourth quarter worth $254,000. Man Group plc increased its position in C4 Therapeutics by 72.9% during the fourth quarter. Man Group plc now owns 156,098 shares of the company’s stock worth $298,000 after acquiring an additional 65,820 shares during the period. Finally, Engineers Gate Manager LP raised its stake in C4 Therapeutics by 49.9% during the 4th quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock valued at $47,000 after purchasing an additional 8,130 shares during the last quarter. 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.