Stephens Initiates Coverage on C4 Therapeutics (NASDAQ:CCCC)

Research analysts at Stephens began coverage on shares of C4 Therapeutics (NASDAQ:CCCC - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm set an "equal weight" rating and a $4.00 price target on the stock. Stephens' target price suggests a potential downside of 4.76% from the company's previous close.

Separately, BMO Capital Markets reissued an "outperform" rating and issued a $20.00 price objective on shares of C4 Therapeutics in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $10.00.

C4 Therapeutics Stock Down 2.6 %

Shares of NASDAQ:CCCC traded down $0.11 during trading on Monday, reaching $4.20. The stock had a trading volume of 1,191,897 shares, compared to its average volume of 2,121,922. The stock has a market cap of $296.48 million, a P/E ratio of -2.34 and a beta of 3.04. The business has a fifty day moving average price of $5.89 and a 200-day moving average price of $5.72. C4 Therapeutics has a fifty-two week low of $1.06 and a fifty-two week high of $11.88.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.05. The company had revenue of $15.36 million during the quarter, compared to analysts' expectations of $5.95 million. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. As a group, equities analysts forecast that C4 Therapeutics will post -1.48 EPS for the current year.

Institutional Investors Weigh In On C4 Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake 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 acquiring an additional 7,460 shares during the period. Vestcor Inc acquired a new position in C4 Therapeutics during the third quarter valued at $168,000. M&T Bank Corp lifted its stake in C4 Therapeutics by 19.3% in the 3rd quarter. M&T Bank Corp now owns 113,907 shares of the company's stock worth $649,000 after acquiring an additional 18,466 shares in the last quarter. Barclays PLC boosted its position in C4 Therapeutics by 38.4% during the 3rd quarter. Barclays PLC now owns 243,457 shares of the company's stock worth $1,387,000 after acquiring an additional 67,546 shares during the period. Finally, XTX Topco Ltd purchased a new position in C4 Therapeutics during the 3rd quarter valued at about $484,000. 78.81% of the stock is 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.