Analysts Set C4 Therapeutics, Inc. (NASDAQ:CCCC) Target Price at $8.50

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $8.50.

A number of brokerages have issued reports on CCCC. Stephens reiterated an “overweight” rating and set a $6.00 price objective on shares of C4 Therapeutics in a research note on Monday, September 22nd. Guggenheim started coverage on shares of C4 Therapeutics in a report on Wednesday, September 3rd. They issued a “buy” rating and a $8.00 price objective for the company. TD Cowen assumed coverage on C4 Therapeutics in a research note on Tuesday, December 2nd. They issued a “buy” rating for the company. Wells Fargo & Company increased their price objective on C4 Therapeutics from $5.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, September 23rd. Finally, Barclays upped their target price on shares of C4 Therapeutics from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd.

C4 Therapeutics Stock Down 1.6%

NASDAQ CCCC opened at $2.43 on Friday. The stock’s 50 day moving average is $2.46 and its 200 day moving average is $2.27. The firm has a market capitalization of $235.49 million, a PE ratio of -1.46 and a beta of 2.87. C4 Therapeutics has a twelve month low of $1.09 and a twelve month high of $4.53.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.03. The company had revenue of $11.23 million during the quarter, compared to analyst estimates of $6.28 million. C4 Therapeutics had a negative net margin of 395.51% and a negative return on equity of 64.40%. On average, research analysts anticipate that C4 Therapeutics will post -1.52 earnings per share for the current year.

Hedge Funds Weigh In On C4 Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CCCC. Wasatch Advisors LP lifted its holdings in C4 Therapeutics by 10.4% in the second quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company’s stock valued at $10,617,000 after acquiring an additional 700,253 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in C4 Therapeutics in the 1st quarter worth $1,116,000. Jane Street Group LLC lifted its position in shares of C4 Therapeutics by 3,816.8% during the 2nd quarter. Jane Street Group LLC now owns 492,612 shares of the company’s stock valued at $704,000 after buying an additional 480,035 shares in the last quarter. Shay Capital LLC bought a new position in shares of C4 Therapeutics in the third quarter worth approximately $932,000. Finally, Nuveen LLC bought a new position in shares of C4 Therapeutics in the first quarter worth about $308,000. 78.81% of the stock is 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.