C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• C4 Therapeutics has a consensus analyst rating of “Moderate Buy” from seven brokerages, with five buy ratings, one hold, and one sell. The average 1-year target price is $7.75.
• The stock was down 6.8% and opened at $3.40, leaving it well below the analyst target. Its 52-week range is $1.69 to $5.17, and it has a market cap of about $375.94 million.
• In its latest quarterly report, C4 Therapeutics beat EPS and revenue estimates, posting a loss of $0.20 per share versus expectations for a $0.25 loss and revenue of $6.15 million versus $4.42 million expected. Despite that, analysts still expect the company to post a full-year loss.

C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $7.75.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of C4 Therapeutics in a research report on Friday, July 17th.

C4 Therapeutics Stock Down 6.8%

Shares of NASDAQ CCCC opened at $3.40 on Friday. The business has a fifty day simple moving average of $3.92 and a two-hundred day simple moving average of $3.03. The firm has a market cap of $375.94 million, a PE ratio of -2.86 and a beta of 2.90. C4 Therapeutics has a twelve month low of $1.69 and a twelve month high of $5.17.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.25) by $0.05. The business had revenue of $6.15 million for the quarter, compared to the consensus estimate of $4.42 million. C4 Therapeutics had a negative return on equity of 50.68% and a negative net margin of 297.76%. On average, research analysts expect that C4 Therapeutics will post -0.87 earnings per share for the current year.

Hedge Funds Weigh In On C4 Therapeutics

Institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP raised its stake in C4 Therapeutics by 49.9% in the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company's stock worth $47,000 after buying an additional 8,130 shares in the last quarter. SummitTX Capital L.P. bought a new stake in C4 Therapeutics during the 1st quarter valued at $28,000. CTC Alternative Strategies Ltd. bought a new stake in C4 Therapeutics during the 1st quarter valued at $28,000. Man Group plc increased its holdings in shares of C4 Therapeutics by 15.0% in the 3rd quarter. Man Group plc now owns 90,278 shares of the company's stock valued at $200,000 after acquiring an additional 11,791 shares during the period. Finally, Zacks Investment Management purchased a new position in shares of C4 Therapeutics in the 3rd quarter valued at $29,000. 78.81% of the stock is owned by hedge funds and other institutional investors.

C4 Therapeutics Company Profile

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.

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