C4 Therapeutics, Inc. (CCCC) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analysts remain cautiously positive: C4 Therapeutics has a “Moderate Buy” consensus, with four buy ratings and one sell rating. The average 12-month price target is $9.33 versus the stock’s reported $3.21 price.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 78.81% of the company, with several funds significantly increasing their positions and Velan Capital initiating a new stake.
• The company remains financially challenged despite an earnings beat: C4 Therapeutics exceeded quarterly revenue and EPS expectations, but posted a negative net margin, negative return on equity, and analysts expect a full-year loss of $0.81 per share.

C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) has received an average rating of "Moderate Buy" from the five analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $9.33.

A number of research firms have weighed in on CCCC. JPMorgan Chase & Co. started coverage on shares of C4 Therapeutics in a research note on Friday, October 9th. They issued an "overweight" rating and a $10.00 price objective on the stock. Lake Street Capital began coverage on C4 Therapeutics in a report on Wednesday, October 28th. They issued a "buy" rating and a $11.00 target price on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of C4 Therapeutics in a research report on Thursday, October 15th.

Hedge Funds Weigh In On C4 Therapeutics

Hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its holdings in C4 Therapeutics by 27.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 22,447 shares of the company's stock worth $70,000 after purchasing an additional 4,850 shares during the last quarter. Congress Asset Management Co. grew its position in C4 Therapeutics by 25.2% in the 3rd quarter. Congress Asset Management Co. now owns 1,256,692 shares of the company's stock worth $4,185,000 after purchasing an additional 253,255 shares in the last quarter. Squarepoint Ops LLC increased its stake in C4 Therapeutics by 320.1% in the 2nd quarter. Squarepoint Ops LLC now owns 170,834 shares of the company's stock valued at $798,000 after buying an additional 130,170 shares during the last quarter. Seven Fleet Capital Management LP increased its stake in C4 Therapeutics by 567.8% in the 2nd quarter. Seven Fleet Capital Management LP now owns 381,169 shares of the company's stock valued at $1,780,000 after buying an additional 324,093 shares during the last quarter. Finally, Velan Capital Investment Management LP purchased a new stake in C4 Therapeutics in the 2nd quarter valued at about $2,662,000. 78.81% of the stock is owned by hedge funds and other institutional investors.

C4 Therapeutics Trading Down 4.7%

NASDAQ CCCC opened at $3.21 on Tuesday. The business's 50-day moving average price is $3.31 and its two-hundred day moving average price is $3.21. C4 Therapeutics has a 12 month low of $1.69 and a 12 month high of $5.17. The firm has a market capitalization of $394.91 million, a PE ratio of -3.21 and a beta of 3.07.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.05. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%. The company had revenue of $6.64 million during the quarter, compared to analysts' expectations of $4.00 million. As a group, analysts forecast that C4 Therapeutics will post -0.81 earnings per share for the current fiscal year.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary TORPEDO platform to design targeted protein degraders, which are intended to direct specific proteins to the cell's natural disposal system rather than simply blocking their activity.

C4 Therapeutics has concentrated its research and development efforts primarily on oncology, including programs aimed at genetically defined cancers and difficult-to-treat tumors.

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