C4 Therapeutics (NASDAQ:CCCC) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of C4 Therapeutics (NASDAQ:CCCC) in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm issued an overweight rating and a $10.00 price target on the stock.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

C4 Therapeutics Stock Performance

NASDAQ:CCCC opened at $3.16 on Friday. The stock has a 50-day simple moving average of $3.57 and a two-hundred day simple moving average of $3.52. The firm has a market capitalization of $388.77 million, a PE ratio of -3.16 and a beta of 3.07. C4 Therapeutics has a 52-week low of $1.69 and a 52-week high of $5.17.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $4.00 million. Equities analysts forecast that C4 Therapeutics will post -0.85 earnings per share for the current fiscal year.

Institutional Trading of C4 Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors LP lifted its stake 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 buying an additional 560,883 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in 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 period. Congress Asset Management Co. increased its stake in C4 Therapeutics by 25.2% in the 3rd quarter. Congress Asset Management Co. now owns 1,256,692 shares of the company’s stock worth $4,185,000 after buying an additional 253,255 shares in the last quarter. Velan Capital Investment Management LP bought a new stake in C4 Therapeutics during the second quarter valued at about $2,662,000. Finally, Stempoint Capital LP bought a new stake in C4 Therapeutics during the first quarter valued at about $1,192,000. 78.81% of the stock is currently owned by institutional investors.

C4 Therapeutics Company Profile

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.