C4 Therapeutics (NASDAQ:CCCC) Now Covered by Analysts at Barclays

Key Points

• C4 Therapeutics' stock rating was upgraded to a "strong-buy" by Barclays, reflecting positive sentiment in the market.
• The company's stock recently opened at $3.38, and it has experienced a twelve-month low of $1.09 and a high of $7.14.
• Institutional investors have significantly increased their holdings in C4 Therapeutics, with one firm boosting its stake by 458.0% in the second quarter.

Barclays started coverage on shares of C4 Therapeutics (NASDAQ:CCCC - Free Report) in a report published on Tuesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $8.00 price target on the stock.

CCCC has been the topic of a number of other reports. Zacks Research lowered shares of C4 Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. Stephens upgraded shares of C4 Therapeutics from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $3.00 to $6.00 in a report on Monday, September 15th. Guggenheim initiated coverage on shares of C4 Therapeutics in a report on Wednesday, September 3rd. They set a "buy" rating and a $8.00 price objective on the stock. Finally, Wall Street Zen lowered shares of C4 Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $8.50.

C4 Therapeutics Price Performance

Shares of NASDAQ CCCC traded down $0.16 during midday trading on Tuesday, reaching $3.16. 882,083 shares of the stock were exchanged, compared to its average volume of 1,287,894. The business has a 50-day simple moving average of $2.52 and a two-hundred day simple moving average of $1.91. The company has a market capitalization of $224.90 million, a price-to-earnings ratio of -2.00 and a beta of 2.98. 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 announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.37) earnings per share for the quarter, topping analysts' consensus estimates of ($0.38) by $0.01. The company had revenue of $6.46 million for the quarter, compared to analysts' expectations of $5.24 million. C4 Therapeutics had a negative net margin of 325.88% and a negative return on equity of 53.91%. Equities research analysts expect that C4 Therapeutics will post -1.52 earnings per share for the current fiscal year.

Institutional Trading of C4 Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CCCC. Dynamic Technology Lab Private Ltd bought a new stake in C4 Therapeutics in the 2nd quarter valued at about $31,000. Savant Capital LLC bought a new stake in C4 Therapeutics in the 2nd quarter valued at about $38,000. Catalyst Funds Management Pty Ltd bought a new stake in C4 Therapeutics in the 2nd quarter valued at about $40,000. Crestwood Advisors Group LLC bought a new stake in C4 Therapeutics in the 2nd quarter valued at about $41,000. Finally, Brookstone Capital Management bought a new stake in C4 Therapeutics in the 2nd quarter valued at about $42,000. Institutional investors own 78.81% of the company's stock.

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.