C4 Therapeutics, Inc. (NASDAQ:CCCC) Stock Now Rated “Moderate Buy” by Wall Street Analysts

C4 Therapeutics, Inc. (NASDAQ:CCCC) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $8.50.

A number of brokerages have recently commented on CCCC. JPMorgan Chase & Co. initiated coverage on C4 Therapeutics in a research report on Friday, October 9th. They set an “overweight” rating and a $10.00 price objective for the company. Lake Street Capital began coverage on C4 Therapeutics in a report on Wednesday, October 28th. They issued a “buy” rating and a $11.00 target price on the stock. Wall Street Zen lowered C4 Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Evercore lowered C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a report on Thursday, October 15th.

C4 Therapeutics Trading Up 1.6%

Shares of NASDAQ CCCC opened at $3.15 on Tuesday. C4 Therapeutics has a twelve month low of $1.69 and a twelve month high of $5.17. The firm has a 50-day moving average of $3.21 and a two-hundred day moving average of $3.23. The company has a market capitalization of $387.54 million, a price-to-earnings ratio of -4.37 and a beta of 3.16.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 45.45%. The company had revenue of $8.47 million for the quarter, compared to analysts’ expectations of $8.52 million. As a group, research analysts predict that C4 Therapeutics will post -0.81 earnings per share for the current year.

Institutional Trading of C4 Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CCCC. Russell Investments Group Ltd. raised its position in C4 Therapeutics by 170.5% during the third quarter. Russell Investments Group Ltd. now owns 21,924 shares of the company’s stock valued at $73,000 after buying an additional 13,819 shares during the period. Jefferies Financial Group Inc. purchased a new stake in C4 Therapeutics in the 3rd quarter worth about $34,000. Allspring Global Investments Holdings LLC acquired a new stake in C4 Therapeutics during the 3rd quarter worth about $239,000. Candriam S.C.A. boosted its position in C4 Therapeutics by 53.6% during the 3rd quarter. Candriam S.C.A. now owns 2,760,346 shares of the company’s stock worth $9,226,000 after acquiring an additional 963,409 shares during the period. Finally, Alps Advisors Inc. grew its stake in C4 Therapeutics by 44.2% during the 3rd quarter. Alps Advisors Inc. now owns 161,828 shares of the company’s stock valued at $539,000 after acquiring an additional 49,614 shares in the last quarter. Institutional investors and hedge funds own 78.81% of the company’s stock.

About C4 Therapeutics

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.