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

Key Points

• Analyst sentiment is moderately positive: Four of five analysts rate C4 Therapeutics a “Buy,” while one recommends selling, producing a consensus “Moderate Buy” rating and an average 12-month price target of $7.67.
• C4 Therapeutics reported a quarterly loss of $0.18 per share, better than the expected $0.23 loss, while revenue of $6.64 million exceeded estimates of $4 million. Analysts expect a full-year loss of $0.85 per share.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 78.81% of the company, with several major investors increasing their positions.

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $7.6667.

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

C4 Therapeutics Price Performance

NASDAQ CCCC opened at $3.51 on Monday. The company has a 50-day moving average price of $3.83 and a 200-day moving average price of $3.47. C4 Therapeutics has a 52 week low of $1.69 and a 52 week high of $5.17. The firm has a market capitalization of $431.84 million, a P/E ratio of -3.51 and a beta of 2.94.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.05. The firm had revenue of $6.64 million during the quarter, compared to analyst estimates of $4.00 million. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%. As a group, equities research analysts anticipate that C4 Therapeutics will post -0.85 EPS for the current year.

Hedge Funds Weigh In On C4 Therapeutics

Several institutional investors have recently bought and sold shares of CCCC. RA Capital Management L.P. bought a new stake in C4 Therapeutics in the 4th quarter worth approximately $15,280,000. Wasatch Advisors LP boosted its position in shares of C4 Therapeutics by 10.4% during the 2nd quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company's stock valued at $10,617,000 after acquiring an additional 700,253 shares during the last quarter. Bain Capital Life Sciences Investors LLC boosted its position in shares of C4 Therapeutics by 545.0% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 7,171,910 shares of the company's stock valued at $13,698,000 after acquiring an additional 6,060,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of C4 Therapeutics by 5.7% in the third quarter. Vanguard Group Inc. now owns 3,191,557 shares of the company's stock valued at $7,085,000 after purchasing an additional 173,535 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of C4 Therapeutics by 53.6% in the first quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company's stock valued at $6,475,000 after purchasing an additional 859,235 shares in the last quarter. 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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