C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Average Rating of “Hold” by Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have received a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $8.50.

Several equities analysts have recently issued reports on CCCC shares. Stephens reiterated an “overweight” rating and set a $6.00 price target on shares of C4 Therapeutics in a research report on Monday, September 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Saturday, September 27th. Barclays raised their target price on C4 Therapeutics from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. Zacks Research cut C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Wells Fargo & Company raised their target price on C4 Therapeutics from $5.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, September 23rd.

C4 Therapeutics Stock Up 2.7%

Shares of NASDAQ CCCC opened at $2.27 on Monday. C4 Therapeutics has a fifty-two week low of $1.09 and a fifty-two week high of $7.14. The firm’s 50-day simple moving average is $2.53 and its 200 day simple moving average is $1.92. The stock has a market cap of $161.56 million, a P/E ratio of -1.44 and a beta of 2.94.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. C4 Therapeutics had a negative net margin of 325.88% and a negative return on equity of 53.91%. The business had revenue of $6.46 million for the quarter, compared to analysts’ expectations of $5.24 million. On average, sell-side analysts anticipate that C4 Therapeutics will post -1.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCCC. American Century Companies Inc. grew its holdings in shares of C4 Therapeutics by 6.9% in the 1st quarter. American Century Companies Inc. now owns 141,986 shares of the company’s stock worth $227,000 after acquiring an additional 9,154 shares during the last quarter. ProShare Advisors LLC raised its position in shares of C4 Therapeutics by 83.1% during the fourth quarter. ProShare Advisors LLC now owns 20,283 shares of the company’s stock worth $73,000 after purchasing an additional 9,204 shares during the period. Nuveen Asset Management LLC raised its position in shares of C4 Therapeutics by 6.4% during the fourth quarter. Nuveen Asset Management LLC now owns 192,424 shares of the company’s stock worth $693,000 after purchasing an additional 11,571 shares during the period. Invesco Ltd. raised its position in shares of C4 Therapeutics by 11.1% during the second quarter. Invesco Ltd. now owns 155,017 shares of the company’s stock worth $222,000 after purchasing an additional 15,531 shares during the period. Finally, Bank of America Corp DE raised its position in shares of C4 Therapeutics by 0.9% during the second quarter. Bank of America Corp DE now owns 2,008,004 shares of the company’s stock worth $2,871,000 after purchasing an additional 17,180 shares during the period. Institutional investors own 78.81% of the company’s stock.

About C4 Therapeutics

C4 Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops novel therapeutic candidates to degrade disease-causing proteins for the treatment of cancer, neurodegenerative conditions, and other diseases. Its lead product candidate is CFT7455, an orally bioavailable MonoDAC degrader of protein that is in Phase 1/2 trial targeting IKZF1 and IKZF3 for multiple myeloma and non-Hodgkin lymphomas, including peripheral T-cell lymphoma and mantle cell lymphoma, currently under Phase 1/2 clinical trials.