C4 Therapeutics (NASDAQ:CCCC) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• C4 Therapeutics has received a "Sell (D-)" rating from Weiss Ratings, reflecting negative sentiment among analysts.
• Despite this downgrade, Barclays has increased its price target for the stock from $8.00 to $10.00, while four analysts have rated it a Buy.
• The stock is currently trading at $2.23, down 1.3%, with a market capitalization of $158.71 million and projections indicating a negative earnings per share for the year.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report)'s stock had its "sell (d-)" rating restated by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently commented on the company. Guggenheim started coverage on C4 Therapeutics in a research report on Wednesday, September 3rd. They issued a "buy" rating and a $8.00 price objective on the stock. Barclays increased their price target on C4 Therapeutics from $8.00 to $10.00 and gave the stock an "overweight" rating in a research report on Monday, September 22nd. Zacks Research downgraded C4 Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Wall Street Zen downgraded C4 Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Stephens restated an "overweight" rating and set a $6.00 price objective on shares of C4 Therapeutics in a research note on Monday, September 22nd. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $8.50.

C4 Therapeutics Trading Down 1.3%

Shares of NASDAQ CCCC traded down $0.03 during trading hours on Wednesday, hitting $2.23. 1,706,267 shares of the company traded hands, compared to its average volume of 1,518,208. The stock has a market capitalization of $158.71 million, a price-to-earnings ratio of -1.41 and a beta of 2.94. The company's 50 day moving average price is $2.53 and its 200 day moving average price is $1.92. C4 Therapeutics has a 12 month low of $1.09 and a 12 month high of $7.14.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.01. The firm 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%. Equities analysts anticipate that C4 Therapeutics will post -1.52 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in C4 Therapeutics during the first quarter valued at approximately $680,000. XTX Topco Ltd purchased a new position in C4 Therapeutics during the first quarter valued at approximately $64,000. Deutsche Bank AG purchased a new position in C4 Therapeutics during the first quarter valued at approximately $74,000. Invesco Ltd. raised its position in C4 Therapeutics by 101.6% during the first quarter. Invesco Ltd. now owns 139,486 shares of the company's stock valued at $223,000 after acquiring an additional 70,293 shares in the last quarter. Finally, Nuveen LLC purchased a new position in C4 Therapeutics during the first quarter valued at approximately $308,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.