Wells Fargo & Company Raises C4 Therapeutics (NASDAQ:CCCC) Price Target to $8.00

C4 Therapeutics (NASDAQ:CCCC - Free Report) had its price objective upped by Wells Fargo & Company from $7.00 to $8.00 in a research note published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

CCCC has been the subject of several other research reports. Stifel Nicolaus boosted their price objective on C4 Therapeutics from $13.00 to $14.00 and gave the company a buy rating in a report on Thursday. Morgan Stanley increased their price target on shares of C4 Therapeutics to $8.00 and gave the stock an equal weight rating in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. raised shares of C4 Therapeutics from an underweight rating to a neutral rating and set a $6.00 target price on the stock in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $10.11.

C4 Therapeutics Stock Performance

Shares of NASDAQ CCCC traded up $0.35 during mid-day trading on Thursday, hitting $6.80. The stock had a trading volume of 1,642,701 shares, compared to its average volume of 3,340,682. The company has a 50 day moving average of $8.12 and a two-hundred day moving average of $5.74. C4 Therapeutics has a twelve month low of $1.06 and a twelve month high of $11.88. The firm has a market cap of $467.91 million, a PE ratio of -2.49 and a beta of 3.22.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported ($0.68) EPS for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.01). C4 Therapeutics had a negative return on equity of 55.30% and a negative net margin of 638.34%. The firm had revenue of $3.26 million for the quarter, compared to analyst estimates of $5.23 million. Equities research analysts predict that C4 Therapeutics will post -1.86 EPS for the current fiscal year.

Institutional Trading of C4 Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in C4 Therapeutics during the fourth quarter worth about $39,000. FNY Investment Advisers LLC purchased a new stake in C4 Therapeutics in the fourth quarter valued at $49,000. Entropy Technologies LP purchased a new stake in C4 Therapeutics in the first quarter valued at $126,000. Tower Research Capital LLC TRC lifted its stake in shares of C4 Therapeutics by 33.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 16,322 shares of the company's stock valued at $92,000 after purchasing an additional 4,063 shares during the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of C4 Therapeutics during the 4th quarter worth about $124,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

About C4 Therapeutics

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.