C4 Therapeutics (NASDAQ:CCCC) Now Covered by Analysts at Guggenheim

Guggenheim started coverage on shares of C4 Therapeutics (NASDAQ:CCCC) in a research note published on Friday, MarketBeat.com reports. The firm issued a buy rating and a $6.00 price objective on the stock.

Several other research firms have also recently weighed in on CCCC. JPMorgan Chase & Co. started coverage on shares of C4 Therapeutics in a research note on Friday, October 9th. They issued an “overweight” rating and a $10.00 target price for the company. Evercore downgraded C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Thursday, October 15th. Finally, Lake Street Capital initiated coverage on C4 Therapeutics in a report on Wednesday, October 28th. They issued a “buy” rating and a $11.00 price target for the company. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.50.

C4 Therapeutics Trading Up 5.1%

NASDAQ:CCCC traded up $0.15 during trading hours on Friday, hitting $3.10. 4,325,494 shares of the company traded hands, compared to its average volume of 2,927,055. C4 Therapeutics has a twelve month low of $1.69 and a twelve month high of $5.17. The firm has a 50-day moving average of $3.22 and a 200 day moving average of $3.22. The stock has a market capitalization of $381.39 million, a price-to-earnings ratio of -4.31 and a beta of 3.16.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 45.45%. The company had revenue of $8.47 million for the quarter, compared to analyst estimates of $8.52 million. Equities research analysts predict that C4 Therapeutics will post -0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On C4 Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Candriam S.C.A. raised its stake in shares of C4 Therapeutics by 53.6% in the 3rd quarter. Candriam S.C.A. now owns 2,760,346 shares of the company’s stock valued at $9,226,000 after buying an additional 963,409 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of C4 Therapeutics by 53.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company’s stock valued at $6,475,000 after acquiring an additional 859,235 shares in the last quarter. Velan Capital Investment Management LP acquired a new stake in shares of C4 Therapeutics during the 2nd quarter valued at about $2,662,000. Wasatch Advisors LP increased its stake in C4 Therapeutics by 18.9% in the second quarter. Wasatch Advisors LP now owns 3,522,644 shares of the company’s stock valued at $16,451,000 after acquiring an additional 560,883 shares during the period. Finally, Stempoint Capital LP bought a new stake in C4 Therapeutics in the first quarter valued at about $1,192,000. 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 developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary TORPEDO platform to design targeted protein degraders, which are intended to direct specific proteins to the cell’s natural disposal system rather than simply blocking their activity.

C4 Therapeutics has concentrated its research and development efforts primarily on oncology, including programs aimed at genetically defined cancers and difficult-to-treat tumors.