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

C4 Therapeutics, Inc. (NASDAQ:CCCC) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three 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 $10.25.

CCCC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 price target on the stock in a research report on Monday, January 29th. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price target (up previously from $12.00) on shares of C4 Therapeutics in a research report on Friday, February 23rd. Finally, Morgan Stanley lifted their price target on shares of C4 Therapeutics to $8.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th.

Institutional Investors Weigh In On C4 Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake in C4 Therapeutics by 33.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 16,322 shares of the company’s stock worth $92,000 after buying an additional 4,063 shares in the last quarter. Headlands Technologies LLC acquired a new stake in C4 Therapeutics during the fourth quarter worth $39,000. Raymond James & Associates boosted its stake in C4 Therapeutics by 8.5% during the third quarter. Raymond James & Associates now owns 91,380 shares of the company’s stock worth $170,000 after buying an additional 7,146 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in C4 Therapeutics during the fourth quarter worth $49,000. Finally, Barclays PLC boosted its stake in C4 Therapeutics by 30.7% during the third quarter. Barclays PLC now owns 43,614 shares of the company’s stock worth $81,000 after buying an additional 10,246 shares in the last quarter. Institutional investors and hedge funds own 78.81% of the company’s stock.

C4 Therapeutics Stock Performance

Shares of CCCC opened at $6.45 on Thursday. The firm has a market cap of $443.82 million, a PE ratio of -2.42 and a beta of 3.22. The firm’s 50 day moving average price is $8.21 and its 200 day moving average price is $5.73. C4 Therapeutics has a twelve month low of $1.06 and a twelve month high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.01). C4 Therapeutics had a negative net margin of 638.34% and a negative return on equity of 55.30%. The firm had revenue of $3.26 million during the quarter, compared to the consensus estimate of $5.23 million. On average, sell-side analysts anticipate that C4 Therapeutics will post -1.86 earnings per share 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.