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

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) have earned an average rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $8.50.

A number of equities research analysts recently weighed in on the company. Wall Street Zen downgraded C4 Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wells Fargo & Company upped their price target on C4 Therapeutics from $5.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 23rd. Zacks Research lowered C4 Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. Guggenheim began coverage on C4 Therapeutics in a research note on Wednesday, September 3rd. They set a "buy" rating and a $8.00 target price on the stock. Finally, Barclays increased their price target on C4 Therapeutics from $8.00 to $10.00 and gave the company an "overweight" rating in a research note on Monday, September 22nd.

Institutional Trading of C4 Therapeutics

Several large investors have recently bought and sold shares of the stock. Wasatch Advisors LP lifted its stake in shares of C4 Therapeutics by 10.4% during the second quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company's stock worth $10,617,000 after buying an additional 700,253 shares during the period. Bank of America Corp DE lifted its position in C4 Therapeutics by 0.9% during the 2nd quarter. Bank of America Corp DE now owns 2,008,004 shares of the company's stock worth $2,871,000 after acquiring an additional 17,180 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in C4 Therapeutics during the 1st quarter worth about $1,116,000. Goldman Sachs Group Inc. grew its stake in C4 Therapeutics by 8.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 622,720 shares of the company's stock valued at $996,000 after purchasing an additional 49,065 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of C4 Therapeutics by 3,816.8% in the second quarter. Jane Street Group LLC now owns 492,612 shares of the company's stock valued at $704,000 after purchasing an additional 480,035 shares during the period. Hedge funds and other institutional investors own 78.81% of the company's stock.

C4 Therapeutics Stock Up 1.8%

Shares of NASDAQ CCCC opened at $2.23 on Monday. C4 Therapeutics has a twelve month low of $1.09 and a twelve month high of $7.14. The firm has a market cap of $158.71 million, a PE ratio of -1.41 and a beta of 2.98. The business has a fifty day simple moving average of $2.54 and a two-hundred day simple moving average of $1.92.

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

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