C4 Therapeutics (NASDAQ:CCCC) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of C4 Therapeutics (NASDAQ:CCCC) from an equal weight rating to an overweight rating in a research note released on Thursday, Marketbeat Ratings reports. Wells Fargo & Company currently has $12.00 price objective on the stock, up from their prior price objective of $8.00.

Separately, Stephens initiated coverage on shares of C4 Therapeutics in a report on Monday, November 18th. They issued an “equal weight” rating and a $4.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, C4 Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $10.67.

C4 Therapeutics Price Performance

Shares of NASDAQ:CCCC opened at $3.95 on Thursday. C4 Therapeutics has a 1 year low of $3.61 and a 1 year high of $11.88. The company has a market capitalization of $278.83 million, a PE ratio of -2.32 and a beta of 2.92. The business has a fifty day moving average price of $5.04 and a two-hundred day moving average price of $5.44.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.05. The company had revenue of $15.36 million during the quarter, compared to analyst estimates of $5.95 million. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. Sell-side analysts anticipate that C4 Therapeutics will post -1.52 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CCCC. Geode Capital Management LLC boosted its holdings in shares of C4 Therapeutics by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,369,676 shares of the company’s stock worth $7,809,000 after acquiring an additional 7,460 shares during the period. Point72 DIFC Ltd purchased a new stake in C4 Therapeutics during the 3rd quarter worth about $51,000. Headlands Technologies LLC bought a new position in C4 Therapeutics in the 2nd quarter worth about $45,000. Cynosure Group LLC purchased a new position in C4 Therapeutics during the 3rd quarter valued at about $57,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of C4 Therapeutics during the second quarter valued at about $51,000. 78.81% of the stock is currently 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.