C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives $10.00 Consensus Target Price from Analysts

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have received an average recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $10.00.

CCCC has been the subject of several analyst reports. Stephens started coverage on C4 Therapeutics in a report on Monday, November 18th. They issued an “equal weight” rating and a $4.00 target price for the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $20.00 price target on shares of C4 Therapeutics in a research report on Tuesday, August 6th.

Hedge Funds Weigh In On C4 Therapeutics

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

C4 Therapeutics Price Performance

NASDAQ CCCC opened at $4.55 on Monday. The stock’s 50 day simple moving average is $5.56 and its 200-day simple moving average is $5.60. The company has a market cap of $321.18 million, a PE ratio of -2.68 and a beta of 3.04. C4 Therapeutics has a 1-year low of $1.06 and a 1-year high of $11.88.

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, topping analysts’ consensus estimates 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 firm had revenue of $15.36 million for the quarter, compared to analyst estimates of $5.95 million. On average, equities research analysts anticipate that C4 Therapeutics will post -1.48 EPS for the current fiscal year.

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.