C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $7.6667.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Friday, July 17th.

Institutional Investors Weigh In On C4 Therapeutics

Several hedge funds have recently made changes to their positions in CCCC. RA Capital Management L.P. purchased a new stake in C4 Therapeutics in the fourth quarter worth about $15,280,000. Bain Capital Life Sciences Investors LLC increased its position in C4 Therapeutics by 545.0% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 7,171,910 shares of the company’s stock valued at $13,698,000 after purchasing an additional 6,060,000 shares during the period. Renaissance Technologies LLC increased its position in C4 Therapeutics by 53.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company’s stock valued at $6,475,000 after purchasing an additional 859,235 shares during the period. Wells Fargo & Company MN raised its holdings in shares of C4 Therapeutics by 4,236.9% in the 4th quarter. Wells Fargo & Company MN now owns 809,260 shares of the company’s stock valued at $1,546,000 after purchasing an additional 790,600 shares in the last quarter. Finally, Wasatch Advisors LP raised its holdings in shares of C4 Therapeutics by 10.4% in the 2nd quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company’s stock valued at $10,617,000 after purchasing an additional 700,253 shares in the last quarter. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

C4 Therapeutics Stock Performance

NASDAQ CCCC opened at $3.51 on Monday. The company has a market cap of $431.84 million, a P/E ratio of -3.51 and a beta of 2.94. The business’s 50 day moving average price is $3.83 and its 200-day moving average price is $3.47. C4 Therapeutics has a fifty-two week low of $1.69 and a fifty-two week high of $5.17.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.05. The company had revenue of $6.64 million for the quarter, compared to the consensus estimate of $4.00 million. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 45.45%. As a group, equities analysts predict that C4 Therapeutics will post -0.85 EPS for the current year.

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.