C4 Therapeutics (NASDAQ:CCCC) Rating Lowered to Hold at Evercore

C4 Therapeutics (NASDAQ:CCCC) was downgraded by Evercore from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. began coverage on shares of C4 Therapeutics in a research report on Friday, October 9th. They set an “overweight” rating and a $10.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Thursday, October 15th. Finally, Lake Street Capital assumed coverage on shares of C4 Therapeutics in a report on Wednesday, October 28th. They issued a “buy” rating and a $11.00 price objective for the company. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.33.

C4 Therapeutics Price Performance

CCCC opened at $3.21 on Monday. The business has a fifty day simple moving average of $3.31 and a 200 day simple moving average of $3.21. The company has a market capitalization of $394.91 million, a PE ratio of -3.21 and a beta of 3.07. C4 Therapeutics has a 1 year low of $1.69 and a 1 year high of $5.17.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%. The firm had revenue of $6.64 million for the quarter, compared to analyst estimates of $4.00 million. Equities analysts anticipate that C4 Therapeutics will post -0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C4 Therapeutics

Several hedge funds have recently bought and sold shares of CCCC. China Universal Asset Management Co. Ltd. lifted its position in shares of C4 Therapeutics by 27.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,447 shares of the company’s stock worth $70,000 after buying an additional 4,850 shares during the last quarter. Congress Asset Management Co. boosted its stake in C4 Therapeutics by 25.2% in the third quarter. Congress Asset Management Co. now owns 1,256,692 shares of the company’s stock valued at $4,185,000 after buying an additional 253,255 shares in the last quarter. Squarepoint Ops LLC grew its position in C4 Therapeutics by 320.1% in the second quarter. Squarepoint Ops LLC now owns 170,834 shares of the company’s stock valued at $798,000 after acquiring an additional 130,170 shares during the last quarter. Seven Fleet Capital Management LP grew its position in C4 Therapeutics by 567.8% in the second quarter. Seven Fleet Capital Management LP now owns 381,169 shares of the company’s stock valued at $1,780,000 after acquiring an additional 324,093 shares during the last quarter. Finally, Velan Capital Investment Management LP bought a new position in C4 Therapeutics in the second quarter valued at about $2,662,000. 78.81% of the stock is owned by institutional investors.

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.