C4 Therapeutics, Inc. (CCCC) – What Are Researchers Thinking About This Stock?

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have received an average recommendation of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $9.33.

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. began coverage on shares of C4 Therapeutics in a research note on Friday, October 9th. They set an “overweight” rating and a $10.00 price target for the company. Lake Street Capital assumed coverage on C4 Therapeutics in a research note on Wednesday, October 28th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a report on Thursday, October 15th.

C4 Therapeutics Stock Performance

CCCC opened at $3.21 on Tuesday. The firm has a market cap of $394.91 million, a P/E ratio of -3.21 and a beta of 3.07. The firm has a 50-day moving average of $3.31 and a 200 day moving average of $3.21. C4 Therapeutics has a fifty-two week low of $1.69 and a fifty-two week high of $5.17.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.05. The business had revenue of $6.64 million for the quarter, compared to analyst estimates of $4.00 million. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 45.45%. Equities research analysts predict that C4 Therapeutics will post -0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Velan Capital Investment Management LP purchased a new stake in C4 Therapeutics in the 2nd quarter worth about $2,662,000. Renaissance Technologies LLC lifted its holdings in C4 Therapeutics by 53.6% during the first quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company’s stock valued at $6,475,000 after purchasing an additional 859,235 shares during the last quarter. Wasatch Advisors LP lifted its holdings in C4 Therapeutics by 18.9% during the second quarter. Wasatch Advisors LP now owns 3,522,644 shares of the company’s stock valued at $16,451,000 after purchasing an additional 560,883 shares during the last quarter. Stempoint Capital LP purchased a new stake in C4 Therapeutics during the first quarter valued at about $1,192,000. Finally, Headlands Technologies LLC bought a new position in C4 Therapeutics during the second quarter worth about $719,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary TORPEDO platform to design targeted protein degraders, which are intended to direct specific proteins to the cell’s natural disposal system rather than simply blocking their activity.

C4 Therapeutics has concentrated its research and development efforts primarily on oncology, including programs aimed at genetically defined cancers and difficult-to-treat tumors.