C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Average Recommendation of "Hold" by Brokerages

Key Points

• C4 Therapeutics, Inc. has received a consensus recommendation of "Hold" from brokerages, with three hold ratings and two buy ratings, and an average price target of $8.00.
• Institutional investors own approximately 78.81% of C4 Therapeutics' stock, with notable increases in stakes from firms like Wasatch Advisors LP and Jane Street Group LLC.
• The company's stock has shown a 1.0% increase recently, with a current trading price of $2.59 and a 52-week range of $1.09 to $7.22.

C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) has earned a consensus recommendation of "Hold" from the five brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $8.00.

A number of equities analysts recently issued reports on the company. Guggenheim assumed coverage on C4 Therapeutics in a report on Wednesday. They set a "buy" rating and a $8.00 price objective for the company. Zacks Research lowered C4 Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Wall Street Zen lowered C4 Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 9th.

Institutional Investors Weigh In On C4 Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its stake in C4 Therapeutics by 10.4% during the 2nd quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company's stock worth $10,617,000 after purchasing an additional 700,253 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in C4 Therapeutics during the 1st quarter worth $1,116,000. Jane Street Group LLC grew its stake in C4 Therapeutics by 3,816.8% during the 2nd quarter. Jane Street Group LLC now owns 492,612 shares of the company's stock worth $704,000 after purchasing an additional 480,035 shares in the last quarter. SG Americas Securities LLC acquired a new position in C4 Therapeutics during the 1st quarter worth $680,000. Finally, Soleus Capital Management L.P. grew its stake in C4 Therapeutics by 5.7% during the 4th quarter. Soleus Capital Management L.P. now owns 6,978,942 shares of the company's stock worth $25,124,000 after purchasing an additional 374,946 shares in the last quarter. Hedge funds and other institutional investors own 78.81% of the company's stock.

C4 Therapeutics Stock Up 1.0%

NASDAQ CCCC opened at $2.59 on Thursday. The stock's 50-day moving average price is $2.20 and its 200-day moving average price is $1.90. C4 Therapeutics has a 52 week low of $1.09 and a 52 week high of $7.22. The company has a market capitalization of $183.98 million, a P/E ratio of -1.66 and a beta of 2.98.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.01. The company had revenue of $6.46 million for the quarter, compared to the consensus estimate of $5.24 million. C4 Therapeutics had a negative return on equity of 53.91% and a negative net margin of 325.88%. Research analysts anticipate that C4 Therapeutics will post -1.52 EPS for the current year.

C4 Therapeutics Company Profile

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.

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