C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $7.75.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Monday, April 20th.

C4 Therapeutics Stock Performance

Shares of CCCC opened at $4.35 on Wednesday. The company’s 50-day simple moving average is $3.73 and its 200-day simple moving average is $2.87. C4 Therapeutics has a 1 year low of $1.53 and a 1 year high of $5.17. The stock has a market capitalization of $480.98 million, a PE ratio of -3.66 and a beta of 2.90.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.05. The firm had revenue of $6.15 million during the quarter, compared to analysts’ expectations of $4.42 million. C4 Therapeutics had a negative net margin of 297.76% and a negative return on equity of 50.68%. On average, sell-side analysts predict that C4 Therapeutics will post -0.87 earnings per share for the current year.

Hedge Funds Weigh In On C4 Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CCCC. SummitTX Capital L.P. purchased a new position in C4 Therapeutics in the first quarter worth approximately $28,000. CTC Alternative Strategies Ltd. acquired a new position in shares of C4 Therapeutics during the first quarter worth $28,000. Zacks Investment Management purchased a new position in C4 Therapeutics in the third quarter valued at $29,000. Delta Investment Management LLC acquired a new stake in C4 Therapeutics in the fourth quarter valued at $38,000. Finally, Virtu Financial LLC purchased a new stake in C4 Therapeutics during the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

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.