Stephens Begins Coverage on C4 Therapeutics (NASDAQ:CCCC)

Stephens assumed coverage on shares of C4 Therapeutics (NASDAQ:CCCC) in a research report sent to investors on Monday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $4.00 price objective on the stock.

Separately, BMO Capital Markets reissued an “outperform” rating and set a $20.00 price objective on shares of C4 Therapeutics in a research report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.00.

C4 Therapeutics Price Performance

NASDAQ:CCCC opened at $4.01 on Monday. The company’s 50-day moving average is $5.72 and its two-hundred day moving average is $5.66. C4 Therapeutics has a 1-year low of $1.06 and a 1-year high of $11.88. The firm has a market capitalization of $283.07 million, a price-to-earnings ratio of -2.36 and a beta of 3.04.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. The firm had revenue of $15.36 million for the quarter, compared to analysts’ expectations of $5.95 million. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. As a group, equities analysts anticipate that C4 Therapeutics will post -1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CCCC. Geode Capital Management LLC raised its holdings in shares of C4 Therapeutics by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,369,676 shares of the company’s stock valued at $7,809,000 after buying an additional 7,460 shares during the period. Point72 DIFC Ltd acquired a new position in C4 Therapeutics in the 3rd quarter valued at about $51,000. Headlands Technologies LLC purchased a new stake in C4 Therapeutics during the second quarter worth about $45,000. Cynosure Group LLC acquired a new stake in shares of C4 Therapeutics during the third quarter worth about $57,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of C4 Therapeutics in the second quarter valued at approximately $51,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

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.