C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Average Rating of “Hold” by Analysts

C4 Therapeutics, Inc. (NASDAQ:CCCC) has been given an average recommendation of “Hold” by the seven research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $8.50.

A number of research analysts have commented on CCCC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a report on Saturday, September 27th. Wells Fargo & Company increased their target price on C4 Therapeutics from $5.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, September 23rd. Guggenheim began coverage on C4 Therapeutics in a report on Wednesday, September 3rd. They issued a “buy” rating and a $8.00 price target on the stock. Stephens reissued an “overweight” rating and issued a $6.00 price target on shares of C4 Therapeutics in a report on Monday, September 22nd. Finally, Barclays raised their price target on C4 Therapeutics from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd.

C4 Therapeutics Stock Up 2.7%

NASDAQ:CCCC opened at $2.27 on Monday. The business’s 50 day moving average is $2.53 and its two-hundred day moving average is $1.92. C4 Therapeutics has a 52 week low of $1.09 and a 52 week high of $7.14. The company has a market cap of $161.56 million, a PE ratio of -1.44 and a beta of 2.94.

C4 Therapeutics (NASDAQ:CCCC) last released its earnings results on Thursday, August 7th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.01. C4 Therapeutics had a negative return on equity of 53.91% and a negative net margin of 325.88%.The company had revenue of $6.46 million for the quarter, compared to the consensus estimate of $5.24 million. As a group, sell-side analysts expect that C4 Therapeutics will post -1.52 EPS for the current fiscal year.

Institutional Trading of C4 Therapeutics

Several hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its holdings in shares of C4 Therapeutics by 458.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 40,592 shares of the company’s stock worth $58,000 after purchasing an additional 33,317 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of C4 Therapeutics by 10.4% in the 2nd quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company’s stock worth $10,617,000 after purchasing an additional 700,253 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of C4 Therapeutics by 1,039.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 206,177 shares of the company’s stock worth $295,000 after purchasing an additional 188,081 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of C4 Therapeutics by 0.9% in the 2nd quarter. Bank of America Corp DE now owns 2,008,004 shares of the company’s stock worth $2,871,000 after purchasing an additional 17,180 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of C4 Therapeutics by 3,816.8% in the 2nd quarter. Jane Street Group LLC now owns 492,612 shares of the company’s stock worth $704,000 after purchasing an additional 480,035 shares during the last quarter. Institutional investors own 78.81% of the company’s stock.

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.