C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $10.25.

CCCC has been the topic of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $13.00 price target (up from $12.00) on shares of C4 Therapeutics in a report on Friday, February 23rd. Morgan Stanley upped their price target on C4 Therapeutics to $8.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. raised C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 price target on the stock in a report on Monday, January 29th.

C4 Therapeutics Trading Up 0.6 %

C4 Therapeutics stock opened at $6.91 on Friday. The business’s fifty day simple moving average is $8.56 and its two-hundred day simple moving average is $5.25. C4 Therapeutics has a 12 month low of $1.06 and a 12 month high of $11.88. The company has a market capitalization of $474.03 million, a price-to-earnings ratio of -2.59 and a beta of 3.18.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.01). The business had revenue of $3.26 million for the quarter, compared to the consensus estimate 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, equities research analysts predict that C4 Therapeutics will post -1.86 EPS for the current year.

Institutional Trading of C4 Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP increased its position in C4 Therapeutics by 14.3% during the fourth quarter. Wasatch Advisors LP now owns 7,138,949 shares of the company’s stock valued at $40,335,000 after acquiring an additional 891,808 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in C4 Therapeutics by 10.0% during the first quarter. ArrowMark Colorado Holdings LLC now owns 6,380,880 shares of the company’s stock valued at $20,036,000 after acquiring an additional 578,009 shares during the last quarter. Commodore Capital LP purchased a new stake in C4 Therapeutics during the fourth quarter valued at $21,470,000. BlackRock Inc. increased its position in C4 Therapeutics by 2.1% during the first quarter. BlackRock Inc. now owns 3,696,742 shares of the company’s stock valued at $11,608,000 after acquiring an additional 75,609 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in C4 Therapeutics by 17.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,558,480 shares of the company’s stock valued at $14,457,000 after acquiring an additional 372,021 shares during the last quarter. Hedge funds and other 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.