C4 Therapeutics (NASDAQ:CCCC) Reaches New 12-Month High – Still a Buy?

C4 Therapeutics, Inc. (NASDAQ:CCCC) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $4.76 and last traded at $4.5890, with a volume of 1095638 shares. The stock had previously closed at $4.35.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

C4 Therapeutics Price Performance

The company has a market cap of $546.75 million, a P/E ratio of -4.20 and a beta of 2.91. The company’s 50-day moving average is $3.57 and its two-hundred day moving average is $2.79.

C4 Therapeutics (NASDAQ:CCCC) last issued its earnings results on Tuesday, May 12th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.05. The business had revenue of $6.15 million for the quarter, compared to the consensus estimate of $4.42 million. C4 Therapeutics had a negative return on equity of 50.68% and a negative net margin of 297.76%. Equities research analysts anticipate that C4 Therapeutics, Inc. will post -0.87 EPS for the current year.

Hedge Funds Weigh In On C4 Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CCCC. SummitTX Capital L.P. purchased a new position in shares of C4 Therapeutics in the 1st quarter worth $28,000. CTC Alternative Strategies Ltd. bought a new position in shares of C4 Therapeutics during the first quarter worth $28,000. Zacks Investment Management bought a new stake in shares of C4 Therapeutics in the 3rd quarter worth about $29,000. Delta Investment Management LLC bought a new position in shares of C4 Therapeutics in the 4th quarter valued at about $38,000. Finally, Virtu Financial LLC purchased a new position in C4 Therapeutics in the fourth quarter worth about $39,000. Institutional investors own 78.81% of the company’s stock.

About C4 Therapeutics

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.