Analysts Set C4 Therapeutics, Inc. (NASDAQ:CCCC) PT at $10.67

C4 Therapeutics, Inc. (NASDAQ:CCCC) has received an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $10.67.

Several research firms have commented on CCCC. Wells Fargo & Company raised shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $12.00 in a report on Thursday. Stephens began coverage on C4 Therapeutics in a report on Monday, November 18th. They issued an “equal weight” rating and a $4.00 price target for the company.

C4 Therapeutics Stock Up 2.6 %

CCCC opened at $3.95 on Friday. The company’s 50-day moving average price is $5.04 and its two-hundred day moving average price is $5.44. C4 Therapeutics has a twelve month low of $3.61 and a twelve month high of $11.88. The stock has a market cap of $278.83 million, a price-to-earnings ratio of -2.32 and a beta of 2.92.

C4 Therapeutics (NASDAQ:CCCC) last issued its earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.05. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. The firm had revenue of $15.36 million for the quarter, compared to analyst estimates of $5.95 million. As a group, sell-side analysts anticipate that C4 Therapeutics will post -1.52 earnings per share for the current year.

Hedge Funds Weigh In On C4 Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCCC. Point72 Asset Management L.P. raised its holdings in shares of C4 Therapeutics by 331.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,201,848 shares of the company’s stock valued at $6,851,000 after acquiring an additional 923,268 shares in the last quarter. Acadian Asset Management LLC increased its stake in C4 Therapeutics by 415.8% in the second quarter. Acadian Asset Management LLC now owns 113,436 shares of the company’s stock valued at $524,000 after acquiring an additional 91,443 shares during the last quarter. Wasatch Advisors LP raised its position in C4 Therapeutics by 17.1% during the third quarter. Wasatch Advisors LP now owns 5,677,368 shares of the company’s stock valued at $32,361,000 after purchasing an additional 830,218 shares in the last quarter. FMR LLC lifted its stake in C4 Therapeutics by 687.0% during the third quarter. FMR LLC now owns 185,941 shares of the company’s stock worth $1,060,000 after purchasing an additional 162,314 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of C4 Therapeutics in the 2nd quarter worth about $881,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

C4 Therapeutics Company Profile

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.