C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives Average Recommendation of “Moderate Buy” from Brokerages

C4 Therapeutics, Inc. (NASDAQ:CCCC) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $7.75.

A number of research firms recently weighed in on CCCC. Wall Street Zen raised shares of C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. TD Cowen restated a “buy” rating on shares of C4 Therapeutics in a report on Thursday, February 26th. Barclays raised their price objective on shares of C4 Therapeutics from $5.00 to $7.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. raised their price objective on shares of C4 Therapeutics from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a report on Monday, April 20th.

Institutional Trading of C4 Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new stake in C4 Therapeutics during the third quarter worth about $85,000. Voleon Capital Management LP purchased a new stake in C4 Therapeutics during the third quarter worth about $63,000. Tower Research Capital LLC TRC increased its holdings in C4 Therapeutics by 458.0% during the second quarter. Tower Research Capital LLC TRC now owns 40,592 shares of the company’s stock worth $58,000 after buying an additional 33,317 shares during the last quarter. Engineers Gate Manager LP increased its holdings in C4 Therapeutics by 49.9% during the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock worth $47,000 after buying an additional 8,130 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in C4 Therapeutics during the first quarter worth about $43,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Price Performance

CCCC opened at $3.17 on Tuesday. The company’s 50-day moving average is $2.84 and its 200 day moving average is $2.46. C4 Therapeutics has a fifty-two week low of $1.21 and a fifty-two week high of $3.82. The firm has a market capitalization of $349.27 million, a P/E ratio of -2.33 and a beta of 2.77.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.25. C4 Therapeutics had a negative net margin of 292.08% and a negative return on equity of 53.83%. The company had revenue of $11.02 million for the quarter, compared to analyst estimates of $4.48 million. On average, equities research analysts expect that C4 Therapeutics will post -1.01 earnings per share for the current year.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.