C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Average Recommendation of “Hold” by Brokerages

C4 Therapeutics, Inc. (NASDAQ:CCCC) has received a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat.com reports. Four 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 objective among analysts that have issued ratings on the stock in the last year is $10.13.

Several analysts have commented on CCCC shares. Stifel Nicolaus lifted their price objective on shares of C4 Therapeutics from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Wells Fargo & Company lifted their price objective on shares of C4 Therapeutics from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th.

C4 Therapeutics Trading Down 0.2 %

NASDAQ:CCCC opened at $4.62 on Friday. The company has a market cap of $317.90 million, a PE ratio of -1.95 and a beta of 3.10. C4 Therapeutics has a twelve month low of $1.06 and a twelve month high of $11.88. The company’s 50 day moving average is $5.51 and its two-hundred day moving average is $6.60.

C4 Therapeutics (NASDAQ:CCCC) last released its earnings results on Wednesday, May 8th. The company reported ($0.41) earnings per share for the quarter, hitting the consensus estimate of ($0.41). C4 Therapeutics had a negative net margin of 629.24% and a negative return on equity of 52.85%. The company had revenue of $3.04 million for the quarter, compared to the consensus estimate of $10.93 million. As a group, analysts expect that C4 Therapeutics will post -1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On C4 Therapeutics

Several large investors have recently made changes to their positions in CCCC. Barclays PLC lifted its stake in shares of C4 Therapeutics by 30.7% in the 3rd quarter. Barclays PLC now owns 43,614 shares of the company’s stock valued at $81,000 after purchasing an additional 10,246 shares during the period. Citigroup Inc. raised its position in C4 Therapeutics by 214.6% during the third quarter. Citigroup Inc. now owns 57,894 shares of the company’s stock worth $108,000 after acquiring an additional 39,492 shares during the period. FNY Investment Advisers LLC acquired a new position in C4 Therapeutics during the fourth quarter worth $49,000. Raymond James & Associates raised its position in C4 Therapeutics by 10.5% during the fourth quarter. Raymond James & Associates now owns 100,984 shares of the company’s stock worth $571,000 after acquiring an additional 9,604 shares during the period. Finally, Headlands Technologies LLC acquired a new position in C4 Therapeutics during the fourth quarter worth $39,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

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.