C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives $9.29 Consensus PT from Brokerages

C4 Therapeutics, Inc. (NASDAQ:CCCC) has been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $9.29.

A number of research firms recently weighed in on CCCC. Wells Fargo & Company raised their price objective on C4 Therapeutics from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Thursday, May 9th. BMO Capital Markets restated an “outperform” rating and set a $20.00 price target on shares of C4 Therapeutics in a report on Tuesday, August 6th. Finally, Stifel Nicolaus lifted their price target on C4 Therapeutics from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th.

C4 Therapeutics Trading Up 9.6 %

Shares of CCCC stock opened at $6.64 on Friday. The company’s fifty day moving average price is $5.56 and its 200-day moving average price is $6.66. The stock has a market cap of $456.87 million, a PE ratio of -2.80 and a beta of 3.06. C4 Therapeutics has a 12 month low of $1.06 and a 12 month high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.11. C4 Therapeutics had a negative net margin of 367.17% and a negative return on equity of 44.92%. The business had revenue of $12.01 million for the quarter, compared to analyst estimates of $6.88 million. On average, sell-side analysts forecast that C4 Therapeutics will post -1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On C4 Therapeutics

Several large investors have recently bought and sold shares of the business. Raymond James & Associates boosted its holdings in shares of C4 Therapeutics by 10.5% during the 4th quarter. Raymond James & Associates now owns 100,984 shares of the company’s stock valued at $571,000 after acquiring an additional 9,604 shares during the last quarter. Headlands Technologies LLC bought a new position in C4 Therapeutics during the fourth quarter valued at approximately $39,000. Lighthouse Investment Partners LLC purchased a new stake in C4 Therapeutics in the fourth quarter worth approximately $124,000. Bellevue Group AG bought a new stake in C4 Therapeutics in the 4th quarter worth approximately $350,000. Finally, Wasatch Advisors LP grew its position in C4 Therapeutics by 14.3% in the 4th quarter. Wasatch Advisors LP now owns 7,138,949 shares of the company’s stock worth $40,335,000 after purchasing an additional 891,808 shares during the period. 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.