Lake Street Capital began coverage on shares of C4 Therapeutics (NASDAQ:CCCC – Get Free Report) in a report issued on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $11.00 price target on the stock. Lake Street Capital‘s target price points to a potential upside of 242.68% from the company’s current price.
CCCC has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Thursday, October 15th. JPMorgan Chase & Co. assumed coverage on C4 Therapeutics in a research report on Friday, October 9th. They issued an “overweight” rating and a $10.00 price objective on the stock. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, C4 Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $9.33.
Get Our Latest Analysis on CCCC
C4 Therapeutics Stock Up 7.7%
Shares of CCCC stock opened at $3.21 on Wednesday. The firm has a market cap of $394.91 million, a P/E ratio of -3.21 and a beta of 3.07. The business has a 50-day moving average price of $3.37 and a two-hundred day moving average price of $3.18. C4 Therapeutics has a 12-month low of $1.69 and a 12-month high of $5.17.
C4 Therapeutics (NASDAQ:CCCC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. The firm had revenue of $6.64 million for the quarter, compared to analysts’ expectations of $4.00 million. As a group, research analysts expect that C4 Therapeutics will post -0.81 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in shares of C4 Therapeutics by 53.6% in 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 during the last quarter. Velan Capital Investment Management LP purchased a new position in C4 Therapeutics during the 2nd quarter valued at $2,662,000. Wasatch Advisors LP increased its stake in C4 Therapeutics by 18.9% in the second quarter. Wasatch Advisors LP now owns 3,522,644 shares of the company’s stock worth $16,451,000 after purchasing an additional 560,883 shares during the period. Stempoint Capital LP purchased a new stake in shares of C4 Therapeutics during the first quarter valued at $1,192,000. Finally, Seven Fleet Capital Management LP boosted its stake in shares of C4 Therapeutics by 567.8% during the second quarter. Seven Fleet Capital Management LP now owns 381,169 shares of the company’s stock valued at $1,780,000 after purchasing an additional 324,093 shares during the period. 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 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.
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