C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been given an average rating of “Moderate Buy” by the seven research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $7.75.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Friday, July 17th.

Hedge Funds Weigh In On C4 Therapeutics

A number of large investors have recently made changes to their positions in CCCC. Engineers Gate Manager LP lifted its holdings in shares of C4 Therapeutics by 49.9% during the 4th quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock valued at $47,000 after purchasing an additional 8,130 shares during the last quarter. SummitTX Capital L.P. acquired a new stake in shares of C4 Therapeutics in the 1st quarter worth $28,000. CTC Alternative Strategies Ltd. purchased a new position in C4 Therapeutics during the 1st quarter worth $28,000. Man Group plc grew its stake in C4 Therapeutics by 15.0% during the 3rd quarter. Man Group plc now owns 90,278 shares of the company’s stock worth $200,000 after buying an additional 11,791 shares during the last quarter. Finally, Zacks Investment Management acquired a new position in C4 Therapeutics during the 3rd quarter valued at about $29,000. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Stock Performance

CCCC stock opened at $3.40 on Friday. The firm has a market cap of $375.94 million, a price-to-earnings ratio of -2.86 and a beta of 2.90. The firm has a 50-day simple moving average of $3.92 and a two-hundred day simple moving average of $3.03. C4 Therapeutics has a one year low of $1.69 and a one year high of $5.17.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.05. C4 Therapeutics had a negative net margin of 297.76% and a negative return on equity of 50.68%. The business had revenue of $6.15 million for the quarter, compared to analysts’ expectations of $4.42 million. As a group, equities analysts predict that C4 Therapeutics will post -0.87 earnings per share for the current fiscal year.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.