C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives $7.25 Average Price Target from Analysts

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $7.25.

CCCC has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a report on Wednesday, January 21st. TD Cowen initiated coverage on C4 Therapeutics in a report on Tuesday, December 2nd. They set a “buy” rating for the company. Finally, Barclays cut their price target on C4 Therapeutics from $10.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th.

Institutional Investors Weigh In On C4 Therapeutics

Institutional investors have recently bought and sold shares of the company. Delta Investment Management LLC bought a new position in shares of C4 Therapeutics during the 4th quarter worth approximately $38,000. Hennion & Walsh Asset Management Inc. boosted its holdings in C4 Therapeutics by 15.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 237,137 shares of the company’s stock worth $453,000 after purchasing an additional 32,104 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in C4 Therapeutics in the third quarter valued at $43,000. Jacobs Levy Equity Management Inc. grew its position in C4 Therapeutics by 13.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 503,145 shares of the company’s stock valued at $1,117,000 after purchasing an additional 61,410 shares in the last quarter. Finally, Voleon Capital Management LP acquired a new stake in C4 Therapeutics in the 3rd quarter valued at $63,000. Institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Price Performance

NASDAQ:CCCC opened at $2.01 on Friday. The business’s 50-day simple moving average is $2.23 and its 200-day simple moving average is $2.38. C4 Therapeutics has a fifty-two week low of $1.09 and a fifty-two week high of $3.72. The stock has a market capitalization of $194.79 million, a PE ratio of -1.20 and a beta of 2.96.

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