C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives Average Rating of "Moderate Buy" from Brokerages

C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $10.50.

Separately, BMO Capital Markets reaffirmed an "outperform" rating and set a $20.00 price objective on shares of C4 Therapeutics in a research report on Tuesday, August 6th.

Institutional Investors Weigh In On C4 Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCCC. Lynx1 Capital Management LP raised its stake 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 valued at $31,788,000 after buying an additional 3,245,865 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of C4 Therapeutics by 46.0% in the first quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company's stock worth $23,857,000 after purchasing an additional 920,627 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of C4 Therapeutics in the second quarter worth about $881,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of C4 Therapeutics in the second quarter worth about $660,000. Finally, Acadian Asset Management LLC raised its stake in shares of C4 Therapeutics by 415.8% in the second quarter. Acadian Asset Management LLC now owns 113,436 shares of the company's stock worth $524,000 after purchasing an additional 91,443 shares during the last quarter. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

C4 Therapeutics Trading Down 3.6 %

Shares of CCCC traded down $0.20 during midday trading on Thursday, reaching $5.33. 580,264 shares of the stock were exchanged, compared to its average volume of 2,172,597. C4 Therapeutics has a 52 week low of $1.06 and a 52 week high of $11.88. The company's 50 day moving average is $6.04 and its two-hundred day moving average is $5.81. The company has a market capitalization of $369.57 million, a P/E ratio of -2.85 and a beta of 3.04.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.11. C4 Therapeutics had a negative return on equity of 44.60% and a negative net margin of 367.17%. The business had revenue of $12.01 million for the quarter, compared to the consensus estimate of $6.88 million. On average, sell-side analysts expect that C4 Therapeutics will post -1.57 EPS for the current year.

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.