C4 Therapeutics (NASDAQ:CCCC) Trading Down 2%

C4 Therapeutics, Inc. (NASDAQ:CCCC)’s stock price traded down 2% on Thursday . The company traded as low as $7.87 and last traded at $7.89. 60,298 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 4,289,228 shares. The stock had previously closed at $8.05.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price objective (up from $12.00) on shares of C4 Therapeutics in a research report on Friday, February 23rd. JPMorgan Chase & Co. upgraded shares of C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 target price on the stock in a research note on Monday, January 29th. Finally, Morgan Stanley upped their target price on shares of C4 Therapeutics to $8.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

C4 Therapeutics Stock Up 1.5 %

The stock has a market cap of $560.46 million, a price-to-earnings ratio of -3.00 and a beta of 3.24. The firm’s 50 day moving average is $7.97 and its two-hundred day moving average is $4.66.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.01). The firm had revenue of $3.26 million during the quarter, compared to analyst estimates of $5.23 million. C4 Therapeutics had a negative net margin of 638.34% and a negative return on equity of 55.30%. On average, analysts anticipate that C4 Therapeutics, Inc. will post -1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On C4 Therapeutics

Several hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in shares of C4 Therapeutics by 144.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,382 shares of the company’s stock valued at $26,000 after purchasing an additional 5,546 shares in the last quarter. Tudor Investment Corp Et Al bought a new position in C4 Therapeutics during the 3rd quarter valued at about $28,000. ExodusPoint Capital Management LP bought a new position in C4 Therapeutics during the 1st quarter valued at about $33,000. Headlands Technologies LLC bought a new position in shares of C4 Therapeutics in the fourth quarter worth about $39,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of C4 Therapeutics during the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Company Profile

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.