C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives $10.67 Average Price Target from Analysts

C4 Therapeutics, Inc. (NASDAQ:CCCC) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $10.67.

Several equities research analysts recently issued reports on the stock. Stephens began coverage on shares of C4 Therapeutics in a research note on Monday, November 18th. They issued an “equal weight” rating and a $4.00 price objective for the company. Wells Fargo & Company raised C4 Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $12.00 in a research report on Thursday, December 19th.

Institutional Investors Weigh In On C4 Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new position in shares of C4 Therapeutics during the 3rd quarter worth about $51,000. Headlands Technologies LLC acquired a new position in shares of C4 Therapeutics during the second quarter worth approximately $45,000. Cynosure Group LLC bought a new stake in shares of C4 Therapeutics in the third quarter valued at approximately $57,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of C4 Therapeutics in the second quarter valued at approximately $51,000. Finally, Aigen Investment Management LP acquired a new stake in shares of C4 Therapeutics in the third quarter worth $82,000. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Price Performance

Shares of CCCC stock opened at $3.94 on Tuesday. C4 Therapeutics has a fifty-two week low of $3.38 and a fifty-two week high of $11.88. The stock’s 50-day moving average is $4.14 and its two-hundred day moving average is $5.33. The firm has a market cap of $278.12 million, a P/E ratio of -2.32 and a beta of 2.96.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. The firm had revenue of $15.36 million for the quarter, compared to the consensus estimate 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, research analysts expect that C4 Therapeutics will post -1.52 EPS for the current year.

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.