C4 Therapeutics (NASDAQ:CCCC) Earns Overweight Rating from Analysts at Barclays

Barclays started coverage on shares of C4 Therapeutics (NASDAQ:CCCC) in a report published on Wednesday morning, MarketBeat.com reports. The firm issued an overweight rating and a $8.00 target price on the stock.

Several other analysts have also recently commented on the company. Guggenheim initiated coverage on C4 Therapeutics in a report on Wednesday, September 3rd. They set a “buy” rating and a $8.00 target price on the stock. Wall Street Zen lowered shares of C4 Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Stephens raised shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $3.00 to $6.00 in a research note on Monday, September 15th. Finally, Zacks Research lowered shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 22nd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, C4 Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $8.50.

C4 Therapeutics Trading Down 4.8%

NASDAQ CCCC opened at $3.16 on Wednesday. C4 Therapeutics has a 1-year low of $1.09 and a 1-year high of $7.14. The company has a 50 day moving average of $2.52 and a 200-day moving average of $1.91. The firm has a market cap of $224.90 million, a price-to-earnings ratio of -2.00 and a beta of 2.98.

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

Institutional Investors Weigh In On C4 Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Northern Trust Corp boosted its position in C4 Therapeutics by 1.1% during the 4th quarter. Northern Trust Corp now owns 495,043 shares of the company’s stock worth $1,782,000 after acquiring an additional 5,223 shares during the last quarter. American Century Companies Inc. grew its position in C4 Therapeutics by 6.9% in the first quarter. American Century Companies Inc. now owns 141,986 shares of the company’s stock valued at $227,000 after purchasing an additional 9,154 shares in the last quarter. ProShare Advisors LLC increased its stake in C4 Therapeutics by 83.1% in the 4th quarter. ProShare Advisors LLC now owns 20,283 shares of the company’s stock valued at $73,000 after buying an additional 9,204 shares during the last quarter. Nuveen Asset Management LLC lifted its position in C4 Therapeutics by 6.4% during the 4th quarter. Nuveen Asset Management LLC now owns 192,424 shares of the company’s stock worth $693,000 after buying an additional 11,571 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of C4 Therapeutics by 11.1% during the 2nd quarter. Invesco Ltd. now owns 155,017 shares of the company’s stock worth $222,000 after buying an additional 15,531 shares during the last quarter. Institutional investors and hedge funds 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.