C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives $9.29 Consensus Price Target from Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $10.50.

Separately, BMO Capital Markets reaffirmed an “outperform” rating and set a $20.00 target price on shares of C4 Therapeutics in a report on Tuesday, August 6th.

C4 Therapeutics Stock Up 4.7 %

Shares of CCCC opened at $5.30 on Friday. C4 Therapeutics has a 52-week low of $1.06 and a 52-week high of $11.88. The firm has a market cap of $364.67 million, a price-to-earnings ratio of -2.24 and a beta of 3.04. The business’s 50 day moving average is $5.99 and its two-hundred day moving average is $6.00.

C4 Therapeutics (NASDAQ:CCCC) last released its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.11. C4 Therapeutics had a negative net margin of 367.17% and a negative return on equity of 44.60%. The company had revenue of $12.01 million during the quarter, compared to the consensus estimate of $6.88 million. On average, equities analysts expect that C4 Therapeutics will post -1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new position in C4 Therapeutics in the 2nd quarter valued at about $45,000. B. Riley Wealth Advisors Inc. bought a new position in C4 Therapeutics during the 2nd quarter valued at $51,000. Lighthouse Investment Partners LLC acquired a new position in shares of C4 Therapeutics during the 4th quarter valued at $124,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of C4 Therapeutics in the second quarter valued at $125,000. Finally, Entropy Technologies LP bought a new position in C4 Therapeutics during the first quarter valued at about $126,000. Institutional investors 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.