C4 Therapeutics, Inc. (NASDAQ:CCCC) Stock Has Average Target Price of $8.50

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the four ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $8.50.

A number of equities research analysts recently weighed in on CCCC shares. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Friday, July 17th. JPMorgan Chase & Co. began coverage on shares of C4 Therapeutics in a research report on Friday. They issued an “overweight” rating and a $10.00 price objective on the stock.

Check Out Our Latest Stock Report on C4 Therapeutics

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Velan Capital Investment Management LP acquired a new position in shares of C4 Therapeutics in the 2nd quarter valued at $2,662,000. Renaissance Technologies LLC increased its position in C4 Therapeutics by 53.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company’s stock valued at $6,475,000 after acquiring an additional 859,235 shares during the period. Wasatch Advisors LP lifted its position in shares of C4 Therapeutics by 18.9% during the 2nd quarter. Wasatch Advisors LP now owns 3,522,644 shares of the company’s stock valued at $16,451,000 after acquiring an additional 560,883 shares during the period. Stempoint Capital LP purchased a new stake in C4 Therapeutics in the 1st quarter valued at $1,192,000. Finally, Headlands Technologies LLC bought a new position in C4 Therapeutics during the second quarter valued at $719,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

C4 Therapeutics Price Performance

CCCC stock traded up $0.24 during trading on Friday, reaching $3.09. The company had a trading volume of 559,156 shares, compared to its average volume of 2,599,684. The company has a market cap of $380.39 million, a P/E ratio of -3.12 and a beta of 3.07. The business has a 50 day moving average of $3.58 and a 200 day moving average of $3.51. C4 Therapeutics has a 52 week low of $1.69 and a 52 week high of $5.17.

C4 Therapeutics (NASDAQ:CCCC – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.05. The business had revenue of $6.64 million during the quarter, compared to analysts’ expectations of $4.00 million. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%. Research analysts expect that C4 Therapeutics will post -0.85 earnings per share for the current year.

C4 Therapeutics Company Profile

(Get Free Report)

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses targeted protein degradation, an approach designed to direct the body’s natural cellular machinery to identify and remove specific proteins that contribute to cancer and other diseases.

C4 Therapeutics’ proprietary TORPEDO platform is used to discover and develop small-molecule protein degraders. Its research and development programs have included therapies aimed at targets implicated in blood cancers, solid tumors and genetically defined cancers, including programs directed at IKZF1/3, BRD9 and mutant BRAF.

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