C4 Therapeutics (NASDAQ:CCCC) Research Coverage Started at TD Cowen

TD Cowen initiated coverage on shares of C4 Therapeutics (NASDAQ:CCCC) in a research note released on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating on the stock.

Several other equities analysts have also weighed in on CCCC. Cowen assumed coverage on C4 Therapeutics in a research note on Tuesday. They issued a “buy” rating on the stock. Zacks Research lowered shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 22nd. Wells Fargo & Company lifted their price target on shares of C4 Therapeutics from $5.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, September 23rd. Wall Street Zen downgraded shares of C4 Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, C4 Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $8.50.

C4 Therapeutics Stock Down 7.8%

Shares of NASDAQ CCCC opened at $2.59 on Tuesday. The stock has a market capitalization of $251.00 million, a PE ratio of -1.55 and a beta of 2.87. The firm has a fifty day moving average of $2.41 and a 200-day moving average of $2.20. C4 Therapeutics has a 52-week low of $1.09 and a 52-week high of $5.10.

C4 Therapeutics (NASDAQ:CCCC) last issued its earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.03. C4 Therapeutics had a negative return on equity of 64.40% and a negative net margin of 395.51%.The business had revenue of $11.23 million for the quarter, compared to analyst estimates of $6.28 million. Equities research analysts expect that C4 Therapeutics will post -1.52 EPS for the current fiscal year.

Hedge Funds Weigh In On C4 Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Zacks Investment Management purchased a new stake in shares of C4 Therapeutics during the third quarter worth about $29,000. Dynamic Technology Lab Private Ltd acquired a new stake in C4 Therapeutics during the 2nd quarter valued at approximately $31,000. Savant Capital LLC purchased a new stake in C4 Therapeutics during the 2nd quarter worth approximately $38,000. Catalyst Funds Management Pty Ltd purchased a new stake in C4 Therapeutics during the 2nd quarter worth approximately $40,000. Finally, Crestwood Advisors Group LLC acquired a new position in shares of C4 Therapeutics in the 2nd quarter valued at approximately $41,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

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.