Wall Street Zen Upgrades C4 Therapeutics (NASDAQ:CCCC) to Hold

C4 Therapeutics (NASDAQ:CCCC) was upgraded by research analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a research note issued on Saturday.

Several other equities analysts have also issued reports on the stock. Barclays lifted their price objective on shares of C4 Therapeutics from $5.00 to $7.00 and gave the company an “overweight” rating in a report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Wednesday, January 21st. TD Cowen reissued a “buy” rating on shares of C4 Therapeutics in a research report on Thursday. Finally, Brookline Capital Acquisition upped their price objective on C4 Therapeutics from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.20.

C4 Therapeutics Trading Down 2.9%

Shares of C4 Therapeutics stock opened at $2.70 on Friday. The stock’s fifty day moving average price is $2.09 and its 200-day moving average price is $2.36. The firm has a market cap of $263.47 million, a P/E ratio of -1.99 and a beta of 2.85. C4 Therapeutics has a 12 month low of $1.09 and a 12 month high of $3.65.

C4 Therapeutics (NASDAQ:CCCC) last issued its earnings results on Thursday, February 26th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.25. C4 Therapeutics had a negative net margin of 292.08% and a negative return on equity of 53.83%. The company had revenue of $11.02 million for the quarter, compared to analysts’ expectations of $4.48 million. Analysts forecast that C4 Therapeutics will post -1.52 earnings per share for the current year.

Institutional Trading of C4 Therapeutics

A number of institutional investors have recently made changes to their positions in CCCC. Zacks Investment Management purchased a new stake in C4 Therapeutics in the third quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of C4 Therapeutics during the third quarter valued at about $43,000. Delta Investment Management LLC acquired a new stake in C4 Therapeutics in the 4th quarter worth approximately $38,000. Virtu Financial LLC acquired a new stake in C4 Therapeutics in the 4th quarter worth approximately $39,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in C4 Therapeutics during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds 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.