Brokerages Set C4 Therapeutics, Inc. (NASDAQ:CCCC) Target Price at $7.75
by Michael Walen · The Markets DailyShares of C4 Therapeutics, Inc. (NASDAQ:CCCC – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. One investment 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 1-year price target among analysts that have issued ratings on the stock in the last year is $7.75.
A number of equities research analysts recently commented on CCCC shares. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Wednesday, January 21st. Barclays boosted their price objective on C4 Therapeutics from $5.00 to $7.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Wall Street Zen upgraded C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. TD Cowen reaffirmed a “buy” rating on shares of C4 Therapeutics in a report on Thursday, February 26th. Finally, upped their price target on shares of C4 Therapeutics from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd.
View Our Latest Research Report on C4 Therapeutics
C4 Therapeutics Stock Up 7.6%
Shares of CCCC stock opened at $2.69 on Monday. The company has a market capitalization of $262.49 million, a P/E ratio of -1.98 and a beta of 2.85. C4 Therapeutics has a 12-month low of $1.09 and a 12-month high of $3.82. The firm has a 50-day moving average price of $2.37 and a 200 day moving average price of $2.40.
C4 Therapeutics (NASDAQ:CCCC – Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.25. C4 Therapeutics had a negative net margin of 292.08% and a negative return on equity of 53.83%. The firm had revenue of $11.02 million for the quarter, compared to analysts’ expectations of $4.48 million. As a group, research analysts expect that C4 Therapeutics will post -1.52 earnings per share for the current year.
Institutional Trading of C4 Therapeutics
Several hedge funds have recently modified their holdings of CCCC. Virtu Financial LLC bought a new position in C4 Therapeutics in the 4th quarter worth approximately $39,000. Invesco Ltd. increased its stake in shares of C4 Therapeutics by 39.9% in the 4th quarter. Invesco Ltd. now owns 268,350 shares of the company’s stock valued at $513,000 after buying an additional 76,530 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of C4 Therapeutics in the 4th quarter valued at $254,000. Man Group plc raised its position in shares of C4 Therapeutics by 72.9% during the fourth quarter. Man Group plc now owns 156,098 shares of the company’s stock worth $298,000 after acquiring an additional 65,820 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its stake in shares of C4 Therapeutics by 49.9% during the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock valued at $47,000 after acquiring an additional 8,130 shares during the period. 78.81% of the stock is owned by institutional investors.
About C4 Therapeutics
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.