C4 Therapeutics, Inc. (NASDAQ:CCCC) Stock Has Consensus Target Price of $8.50 According to Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been given a consensus rating of “Moderate Buy” by the four analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $8.50.

A number of equities research analysts recently commented on CCCC shares. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Friday, July 17th. JPMorgan Chase & Co. assumed coverage on C4 Therapeutics in a research report on Friday. They set an “overweight” rating and a $10.00 price objective on the stock.

C4 Therapeutics Stock Performance

Shares of NASDAQ:CCCC traded up $0.24 during trading on Friday, hitting $3.09. The company’s stock had a trading volume of 559,156 shares, compared to its average volume of 2,599,684. The business has a 50 day moving average price of $3.58 and a two-hundred day moving average price of $3.51. C4 Therapeutics has a fifty-two week low of $1.69 and a fifty-two week high of $5.17. The company has a market capitalization of $380.39 million, a PE ratio of -3.12 and a beta of 3.07.

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

Hedge Funds Weigh In On C4 Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Congress Asset Management Co. lifted its position in shares of C4 Therapeutics by 25.2% during the third quarter. Congress Asset Management Co. now owns 1,256,692 shares of the company’s stock worth $4,185,000 after purchasing an additional 253,255 shares in the last quarter. Squarepoint Ops LLC grew its holdings in C4 Therapeutics by 320.1% during the second quarter. Squarepoint Ops LLC now owns 170,834 shares of the company’s stock valued at $798,000 after purchasing an additional 130,170 shares during the last quarter. Seven Fleet Capital Management LP increased its position in shares of C4 Therapeutics by 567.8% during the second quarter. Seven Fleet Capital Management LP now owns 381,169 shares of the company’s stock valued at $1,780,000 after purchasing an additional 324,093 shares during the period. Velan Capital Investment Management LP acquired a new position in shares of C4 Therapeutics in the 2nd quarter worth approximately $2,662,000. Finally, Headlands Technologies LLC bought a new position in C4 Therapeutics in the second quarter valued at approximately $719,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses targeted protein degradation, an approach designed to direct the body’s natural cellular machinery to identify and remove specific proteins that contribute to cancer and other diseases.

C4 Therapeutics’ proprietary TORPEDO platform is used to discover and develop small-molecule protein degraders. Its research and development programs have included therapies aimed at targets implicated in blood cancers, solid tumors and genetically defined cancers, including programs directed at IKZF1/3, BRD9 and mutant BRAF.