C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives $10.67 Consensus PT from Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $10.67.

CCCC has been the subject of several recent research reports. Stephens began coverage on shares of C4 Therapeutics in a research note on Monday, November 18th. They issued an "equal weight" rating and a $4.00 target price for the company. Wells Fargo & Company upgraded C4 Therapeutics from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $8.00 to $12.00 in a research report on Thursday, December 19th.

C4 Therapeutics Stock Up 6.9 %

C4 Therapeutics stock traded up $0.24 during trading on Tuesday, hitting $3.74. The stock had a trading volume of 2,031,714 shares, compared to its average volume of 1,724,168. The stock's 50 day moving average is $4.27 and its two-hundred day moving average is $5.35. C4 Therapeutics has a 1 year low of $3.38 and a 1 year high of $11.88. The stock has a market cap of $264.00 million, a price-to-earnings ratio of -2.20 and a beta of 2.96.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share for the quarter, topping 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 company had revenue of $15.36 million during the quarter, compared to the consensus estimate of $5.95 million. As a group, equities research analysts anticipate that C4 Therapeutics will post -1.52 EPS for the current fiscal year.

Hedge Funds Weigh In On C4 Therapeutics

A number of institutional investors have recently added to or reduced their stakes in CCCC. Lynx1 Capital Management LP grew its position in C4 Therapeutics by 89.3% in the second quarter. Lynx1 Capital Management LP now owns 6,880,527 shares of the company's stock worth $31,788,000 after acquiring an additional 3,245,865 shares in the last quarter. Wasatch Advisors LP lifted its stake in C4 Therapeutics by 17.1% during the third quarter. Wasatch Advisors LP now owns 5,677,368 shares of the company's stock worth $32,361,000 after purchasing an additional 830,218 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of C4 Therapeutics by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,369,676 shares of the company's stock worth $7,809,000 after purchasing an additional 7,460 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of C4 Therapeutics by 6.0% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,319,484 shares of the company's stock valued at $7,521,000 after purchasing an additional 75,126 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of C4 Therapeutics by 331.4% during 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 buying an additional 923,268 shares in the last quarter. 78.81% of the stock is currently owned by 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.