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

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC – Get Free Report) have earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings 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 price target 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.

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Hedge Funds Weigh In On C4 Therapeutics

Several hedge funds have recently modified their holdings of CCCC. RA Capital Management L.P. bought a new position in shares of C4 Therapeutics during the 4th quarter worth approximately $15,280,000. Bain Capital Life Sciences Investors LLC lifted its position in shares of C4 Therapeutics by 545.0% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 7,171,910 shares of the company’s stock worth $13,698,000 after buying an additional 6,060,000 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of C4 Therapeutics by 53.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company’s stock worth $6,475,000 after buying an additional 859,235 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of C4 Therapeutics by 4,236.9% during the 4th quarter. Wells Fargo & Company MN now owns 809,260 shares of the company’s stock worth $1,546,000 after buying an additional 790,600 shares in the last quarter. Finally, Wasatch Advisors LP lifted its position in shares of C4 Therapeutics by 10.4% during the 2nd quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company’s stock worth $10,617,000 after buying an additional 700,253 shares in the last quarter. Institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Stock Performance

Shares of NASDAQ CCCC opened at $4.67 on Wednesday. C4 Therapeutics has a fifty-two week low of $1.39 and a fifty-two week high of $5.17. The stock has a market cap of $516.36 million, a price-to-earnings ratio of -3.92 and a beta of 2.92. The firm’s 50-day simple moving average is $3.60 and its 200 day simple moving average is $2.81.

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

C4 Therapeutics Company Profile

(Get Free Report)

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.

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