C4 Therapeutics (NASDAQ:CCCC) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of C4 Therapeutics (NASDAQ:CCCC - Free Report) from an equal weight rating to an overweight rating in a research report released on Thursday, MarketBeat Ratings reports. Wells Fargo & Company currently has $12.00 target price on the stock, up from their prior target price of $8.00.

Separately, Stephens initiated coverage on C4 Therapeutics in a report on Monday, November 18th. They set an "equal weight" rating and a $4.00 target price on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, C4 Therapeutics has an average rating of "Moderate Buy" and an average price target of $10.67.

C4 Therapeutics Price Performance

CCCC traded up $0.20 during trading on Thursday, reaching $3.85. 2,391,958 shares of the stock were exchanged, compared to its average volume of 2,082,880. The company has a market capitalization of $271.77 million, a price-to-earnings ratio of -2.26 and a beta of 2.92. C4 Therapeutics has a 1 year low of $3.61 and a 1 year high of $11.88. The business's 50 day moving average price is $5.10 and its two-hundred day moving average price is $5.45.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last announced its quarterly 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. The company had revenue of $15.36 million for the quarter, compared to the consensus estimate of $5.95 million. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. On average, analysts anticipate that C4 Therapeutics will post -1.52 EPS for the current year.

Hedge Funds Weigh In On C4 Therapeutics

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in C4 Therapeutics during the second quarter worth approximately $881,000. Hussman Strategic Advisors Inc. purchased a new position in shares of C4 Therapeutics in the 2nd quarter worth $194,000. Rhumbline Advisers boosted its holdings in C4 Therapeutics by 4,959.8% in the second quarter. Rhumbline Advisers now owns 90,621 shares of the company's stock valued at $419,000 after acquiring an additional 88,830 shares during the last quarter. Acadian Asset Management LLC grew its position in C4 Therapeutics by 415.8% during 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 period. Finally, Headlands Technologies LLC acquired a new stake in C4 Therapeutics during the second quarter worth about $45,000. 78.81% of the stock is currently owned by hedge funds and other 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.