Brokerages Set C4 Therapeutics, Inc. (NASDAQ:CCCC) Target Price at $8.71

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned a consensus rating of “Hold” from the seven analysts that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $8.71.

A number of equities analysts recently commented on CCCC shares. Wells Fargo & Company raised their target price on C4 Therapeutics from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. Stifel Nicolaus increased their target price on shares of C4 Therapeutics from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, May 9th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commodore Capital LP bought a new position in C4 Therapeutics during the fourth quarter valued at approximately $21,470,000. Vanguard Group Inc. boosted its holdings in shares of C4 Therapeutics by 46.0% in the 1st quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock worth $23,857,000 after purchasing an additional 920,627 shares during the period. Wasatch Advisors LP increased its position in C4 Therapeutics by 14.3% during the fourth quarter. Wasatch Advisors LP now owns 7,138,949 shares of the company’s stock valued at $40,335,000 after acquiring an additional 891,808 shares during the last quarter. Lynx1 Capital Management LP raised its stake in shares of C4 Therapeutics by 16.0% in the first quarter. Lynx1 Capital Management LP now owns 3,634,662 shares of the company’s stock valued at $29,695,000 after acquiring an additional 500,266 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of C4 Therapeutics in the 2nd quarter worth about $881,000. 78.81% of the stock is currently owned by institutional investors.

C4 Therapeutics Stock Up 0.9 %

Shares of C4 Therapeutics stock opened at $6.50 on Tuesday. C4 Therapeutics has a twelve month low of $1.06 and a twelve month high of $11.88. The company has a market cap of $447.27 million, a price-to-earnings ratio of -2.74 and a beta of 3.07. The company’s 50 day moving average is $5.17 and its 200 day moving average is $6.68.

C4 Therapeutics (NASDAQ:CCCC) last posted its earnings results on Wednesday, May 8th. The company reported ($0.41) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.41). The company had revenue of $3.04 million for the quarter, compared to the consensus estimate of $10.93 million. C4 Therapeutics had a negative return on equity of 52.85% and a negative net margin of 629.24%. Sell-side analysts expect that C4 Therapeutics will post -1.56 EPS for the current fiscal year.

C4 Therapeutics Company Profile

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.