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

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six analysts that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $10.25.

CCCC has been the subject of several analyst reports. Morgan Stanley increased their price objective on C4 Therapeutics to $8.00 and gave the company an "equal weight" rating in a report on Monday, February 26th. Stifel Nicolaus reiterated a "buy" rating and set a $13.00 price objective (up previously from $12.00) on shares of C4 Therapeutics in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. upgraded C4 Therapeutics from an "underweight" rating to a "neutral" rating and set a $6.00 price objective for the company in a report on Monday, January 29th.

Hedge Funds Weigh In On C4 Therapeutics

Several hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP grew its position in C4 Therapeutics by 14.3% during the 4th quarter. Wasatch Advisors LP now owns 7,138,949 shares of the company's stock worth $40,335,000 after purchasing an additional 891,808 shares during the period. ArrowMark Colorado Holdings LLC grew its position in shares of C4 Therapeutics by 10.0% during the 1st quarter. ArrowMark Colorado Holdings LLC now owns 6,380,880 shares of the company's stock valued at $20,036,000 after acquiring an additional 578,009 shares during the period. Commodore Capital LP acquired a new stake in shares of C4 Therapeutics during the 4th quarter valued at about $21,470,000. BlackRock Inc. grew its position in shares of C4 Therapeutics by 2.1% during the 1st quarter. BlackRock Inc. now owns 3,696,742 shares of the company's stock valued at $11,608,000 after acquiring an additional 75,609 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of C4 Therapeutics by 17.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,558,480 shares of the company's stock valued at $14,457,000 after acquiring an additional 372,021 shares during the period. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Stock Performance

C4 Therapeutics stock traded down $0.38 during mid-day trading on Friday, reaching $7.41. 1,873,253 shares of the company were exchanged, compared to its average volume of 2,015,127. The business has a fifty day moving average of $8.45 and a 200 day moving average of $5.16. The firm has a market cap of $508.33 million, a P/E ratio of -2.78 and a beta of 3.18. C4 Therapeutics has a 12-month low of $1.06 and a 12-month high of $11.88.

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

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.