C4 Therapeutics (NASDAQ:CCCC) Downgraded by Evercore to “Hold”

C4 Therapeutics (NASDAQ:CCCC) was downgraded by research analysts at Evercore from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Several other analysts have also recently weighed in on the company. Lake Street Capital started coverage on C4 Therapeutics in a report on Wednesday, October 28th. They set a “buy” rating and a $11.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a report on Thursday, October 15th. Finally, JPMorgan Chase & Co. initiated coverage on shares of C4 Therapeutics in a research report on Friday, October 9th. They set an “overweight” rating and a $10.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.33.

C4 Therapeutics Stock Performance

Shares of CCCC opened at $3.21 on Monday. C4 Therapeutics has a 52 week low of $1.69 and a 52 week high of $5.17. The stock has a market capitalization of $394.91 million, a price-to-earnings ratio of -3.21 and a beta of 3.07. The stock has a fifty day moving average of $3.31 and a 200-day moving average of $3.21.

C4 Therapeutics (NASDAQ:CCCC) last issued its earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. The business had revenue of $6.64 million during the quarter, compared to analysts’ expectations of $4.00 million. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%. As a group, equities analysts forecast that C4 Therapeutics will post -0.81 EPS for the current year.

Hedge Funds Weigh In On C4 Therapeutics

A number of hedge funds have recently made changes to their positions in CCCC. SummitTX Capital L.P. acquired a new stake in C4 Therapeutics during the 1st quarter valued at approximately $28,000. CTC Alternative Strategies Ltd. bought a new position in C4 Therapeutics during the 1st quarter worth approximately $28,000. Sei Investments Co. acquired a new position in shares of C4 Therapeutics in the 1st quarter worth approximately $66,000. China Universal Asset Management Co. Ltd. lifted its position in shares of C4 Therapeutics by 27.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,447 shares of the company’s stock worth $70,000 after purchasing an additional 4,850 shares during the period. Finally, ADAR1 Capital Management LLC bought a new stake in shares of C4 Therapeutics in the 1st quarter valued at $113,000. 78.81% of the stock is currently owned by institutional investors.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary TORPEDO platform to design targeted protein degraders, which are intended to direct specific proteins to the cell’s natural disposal system rather than simply blocking their activity.

C4 Therapeutics has concentrated its research and development efforts primarily on oncology, including programs aimed at genetically defined cancers and difficult-to-treat tumors.