C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives $10.13 Average PT from Analysts

C4 Therapeutics, Inc. (NASDAQ:CCCC) has been assigned an average recommendation of “Hold” from the seven brokerages that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $10.13.

Several brokerages have recently issued reports on CCCC. Wells Fargo & Company upped their price target on C4 Therapeutics from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Stifel Nicolaus lifted their price target on shares of C4 Therapeutics from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th.

C4 Therapeutics Stock Performance

Shares of CCCC stock opened at $4.55 on Friday. C4 Therapeutics has a 52 week low of $1.06 and a 52 week high of $11.88. The stock’s fifty day moving average is $5.31 and its 200-day moving average is $6.63. The stock has a market capitalization of $313.09 million, a PE ratio of -1.92 and a beta of 3.07.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.41) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.41). C4 Therapeutics had a negative net margin of 629.24% and a negative return on equity of 52.85%. The business had revenue of $3.04 million during the quarter, compared to analyst estimates of $10.93 million. As a group, analysts forecast that C4 Therapeutics will post -1.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CCCC. Commodore Capital LP acquired a new stake in shares of C4 Therapeutics during the fourth quarter worth about $21,470,000. Wasatch Advisors LP lifted its stake in C4 Therapeutics by 14.3% in the fourth quarter. Wasatch Advisors LP now owns 7,138,949 shares of the company’s stock valued at $40,335,000 after buying an additional 891,808 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of C4 Therapeutics by 214.6% in the third quarter. Citigroup Inc. now owns 57,894 shares of the company’s stock valued at $108,000 after buying an additional 39,492 shares during the period. Lighthouse Investment Partners LLC bought a new stake in shares of C4 Therapeutics during the fourth quarter worth $124,000. Finally, Barclays PLC raised its holdings in shares of C4 Therapeutics by 30.7% during the third quarter. Barclays PLC now owns 43,614 shares of the company’s stock worth $81,000 after acquiring an additional 10,246 shares during the period. 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.