C4 Therapeutics (NASDAQ:CCCC) Earns Equal Weight Rating from Analysts at Stephens

Stephens initiated coverage on shares of C4 Therapeutics (NASDAQ:CCCC) in a report released on Monday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $4.00 target price on the stock.

Separately, BMO Capital Markets restated an “outperform” rating and set a $20.00 price target on shares of C4 Therapeutics in a research note on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, C4 Therapeutics presently has an average rating of “Hold” and an average target price of $10.00.

C4 Therapeutics Stock Down 2.6 %

Shares of C4 Therapeutics stock opened at $4.20 on Monday. The firm’s 50 day moving average price is $5.86 and its 200-day moving average price is $5.71. C4 Therapeutics has a 52-week low of $1.06 and a 52-week high of $11.88. The company has a market cap of $296.48 million, a P/E ratio of -2.47 and a beta of 3.04.

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

Institutional Trading of C4 Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Lynx1 Capital Management LP lifted its holdings in C4 Therapeutics by 89.3% during the second quarter. Lynx1 Capital Management LP now owns 6,880,527 shares of the company’s stock valued at $31,788,000 after purchasing an additional 3,245,865 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of C4 Therapeutics by 331.4% in the third quarter. Point72 Asset Management L.P. now owns 1,201,848 shares of the company’s stock valued at $6,851,000 after buying an additional 923,268 shares during the last quarter. Vanguard Group Inc. raised its position in shares of C4 Therapeutics by 46.0% in the first quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock valued at $23,857,000 after buying an additional 920,627 shares during the last quarter. Wasatch Advisors LP raised its position in shares of C4 Therapeutics by 17.1% in the third quarter. Wasatch Advisors LP now owns 5,677,368 shares of the company’s stock valued at $32,361,000 after buying an additional 830,218 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of C4 Therapeutics in the second quarter valued at about $881,000. 78.81% of the stock is owned by hedge funds and other institutional investors.

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.