C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Average Recommendation of “Hold” by Brokerages

C4 Therapeutics, Inc. (NASDAQ:CCCC) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $10.00.

A number of equities research analysts have recently weighed in on the company. Stephens assumed coverage on C4 Therapeutics in a research note on Monday, November 18th. They issued an “equal weight” rating and a $4.00 price objective for the company. BMO Capital Markets restated an “outperform” rating and set a $20.00 price target on shares of C4 Therapeutics in a report on Tuesday, August 6th.

C4 Therapeutics Price Performance

CCCC stock opened at $4.55 on Monday. The business has a fifty day moving average of $5.48 and a two-hundred day moving average of $5.57. The stock has a market cap of $321.18 million, a price-to-earnings ratio of -2.68 and a beta of 3.04. C4 Therapeutics has a 52-week low of $1.06 and a 52-week high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. The business had revenue of $15.36 million during the quarter, compared to analysts’ expectations of $5.95 million. As a group, sell-side analysts anticipate that C4 Therapeutics will post -1.48 EPS for the current year.

Institutional Investors Weigh In On C4 Therapeutics

Several large investors have recently bought and sold shares of CCCC. Lynx1 Capital Management LP increased its holdings in C4 Therapeutics by 89.3% during the 2nd quarter. Lynx1 Capital Management LP now owns 6,880,527 shares of the company’s stock worth $31,788,000 after purchasing an additional 3,245,865 shares during the period. Point72 Asset Management L.P. boosted its position in shares of C4 Therapeutics by 331.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,201,848 shares of the company’s stock worth $6,851,000 after acquiring an additional 923,268 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of C4 Therapeutics by 46.0% during the 1st quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock worth $23,857,000 after acquiring an additional 920,627 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of C4 Therapeutics by 17.1% during the 3rd quarter. Wasatch Advisors LP now owns 5,677,368 shares of the company’s stock worth $32,361,000 after acquiring an additional 830,218 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of C4 Therapeutics during the 2nd quarter worth about $881,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Company Profile

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.