C4 Therapeutics, Inc. (NASDAQ:CCCC – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $10.67.
Several brokerages recently weighed in on CCCC. Stephens started coverage on C4 Therapeutics in a report on Monday, November 18th. They set an “equal weight” rating and a $4.00 target price for the company. Wells Fargo & Company raised C4 Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $8.00 to $12.00 in a research note on Thursday.
Read Our Latest Analysis on CCCC
C4 Therapeutics Stock Performance
C4 Therapeutics (NASDAQ:CCCC – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.05. The business 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%. On average, equities research analysts forecast that C4 Therapeutics will post -1.52 earnings per share for the current fiscal year.
Institutional Investors Weigh In On C4 Therapeutics
A number of large investors have recently made changes to their positions in CCCC. Headlands Technologies LLC bought a new stake in shares of C4 Therapeutics during the 2nd quarter valued at about $45,000. B. Riley Wealth Advisors Inc. bought a new stake in C4 Therapeutics during the 2nd quarter valued at approximately $51,000. Point72 DIFC Ltd bought a new stake in C4 Therapeutics during the 3rd quarter valued at approximately $51,000. Cynosure Group LLC purchased a new position in shares of C4 Therapeutics during the 3rd quarter worth approximately $57,000. Finally, Aigen Investment Management LP bought a new position in shares of C4 Therapeutics in the 3rd quarter worth approximately $82,000. 78.81% of the stock is currently owned by institutional investors.
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.
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