C4 Therapeutics (NASDAQ:CCCC) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of C4 Therapeutics (NASDAQ:CCCC) from a hold rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on CCCC. Guggenheim initiated coverage on C4 Therapeutics in a research note on Friday. They issued a “buy” rating and a $6.00 price target for the company. JPMorgan Chase & Co. started coverage on C4 Therapeutics in a research report on Friday, October 9th. They set an “overweight” rating and a $10.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Thursday, October 15th. Evercore cut C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 2nd. Finally, Lake Street Capital started coverage on C4 Therapeutics in a report on Wednesday, October 28th. They issued a “buy” rating and a $11.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $8.50.

C4 Therapeutics Stock Up 1.6%

NASDAQ CCCC opened at $3.15 on Friday. The company has a market capitalization of $387.54 million, a price-to-earnings ratio of -4.37 and a beta of 3.16. C4 Therapeutics has a twelve month low of $1.69 and a twelve month high of $5.17. The stock has a fifty day simple moving average of $3.21 and a 200 day simple moving average of $3.23.

C4 Therapeutics (NASDAQ:CCCC) last announced its earnings results on Thursday, November 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. The business had revenue of $8.47 million during the quarter, compared to analyst estimates of $8.52 million. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%. Research analysts expect that C4 Therapeutics will post -0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C4 Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new stake in C4 Therapeutics during the 3rd quarter worth about $34,000. SummitTX Capital L.P. bought a new position in shares of C4 Therapeutics in the 1st quarter worth about $28,000. CTC Alternative Strategies Ltd. bought a new position in shares of C4 Therapeutics in the 1st quarter worth about $28,000. Russell Investments Group Ltd. raised its position in shares of C4 Therapeutics by 170.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 21,924 shares of the company’s stock worth $73,000 after acquiring an additional 13,819 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of C4 Therapeutics by 27.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,447 shares of the company’s stock valued at $70,000 after purchasing an additional 4,850 shares during the period. Institutional investors and hedge funds own 78.81% of the company’s stock.

C4 Therapeutics Company Profile

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.