C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives $8.50 Average Target Price from Brokerages

C4 Therapeutics, Inc. (NASDAQ:CCCC) has received an average rating of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $7.25.

CCCC has been the topic of a number of analyst reports. TD Cowen initiated coverage on C4 Therapeutics in a research note on Tuesday, December 2nd. They issued a “buy” rating on the stock. Stephens reiterated an “overweight” rating and issued a $6.00 target price on shares of C4 Therapeutics in a report on Monday, September 22nd. Guggenheim began coverage on shares of C4 Therapeutics in a report on Wednesday, September 3rd. They set a “buy” rating and a $8.00 price target on the stock. Zacks Research downgraded shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of C4 Therapeutics from $5.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 23rd.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. purchased a new position in C4 Therapeutics during the first quarter valued at approximately $1,116,000. Nuveen LLC purchased a new stake in C4 Therapeutics in the 1st quarter worth approximately $308,000. Deutsche Bank AG acquired a new stake in shares of C4 Therapeutics during the 1st quarter valued at $74,000. XTX Topco Ltd purchased a new position in shares of C4 Therapeutics during the 1st quarter valued at $64,000. Finally, Brookstone Capital Management acquired a new position in shares of C4 Therapeutics in the second quarter worth $42,000. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Stock Performance

NASDAQ CCCC opened at $2.05 on Friday. C4 Therapeutics has a 1 year low of $1.09 and a 1 year high of $4.26. The business’s fifty day moving average is $2.45 and its two-hundred day moving average is $2.28. The stock has a market capitalization of $198.67 million, a P/E ratio of -1.23 and a beta of 2.87.

C4 Therapeutics (NASDAQ:CCCC) last issued its earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.03. The business had revenue of $11.23 million for the quarter, compared to analysts’ expectations of $6.28 million. C4 Therapeutics had a negative return on equity of 64.40% and a negative net margin of 395.51%. On average, research analysts forecast that C4 Therapeutics will post -1.52 earnings per share for the current year.

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.