C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives $11.60 Average PT from Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $11.60.

A number of research firms have weighed in on CCCC. Stephens began coverage on shares of C4 Therapeutics in a research note on Monday, November 18th. They set an “equal weight” rating and a $4.00 price objective for the company. Wells Fargo & Company raised shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $8.00 to $12.00 in a report on Thursday, December 19th. Finally, UBS Group raised shares of C4 Therapeutics to a “hold” rating in a report on Friday, February 14th.

C4 Therapeutics Stock Performance

NASDAQ:CCCC opened at $3.01 on Wednesday. The firm has a market cap of $212.47 million, a P/E ratio of -1.77 and a beta of 2.95. C4 Therapeutics has a fifty-two week low of $2.79 and a fifty-two week high of $11.88. The firm has a 50-day simple moving average of $3.64 and a two-hundred day simple moving average of $4.91.

Institutional Trading of C4 Therapeutics

A number of institutional investors have recently made changes to their positions in CCCC. Sei Investments Co. purchased a new position in shares of C4 Therapeutics in the fourth quarter worth approximately $45,000. Point72 DIFC Ltd purchased a new position in shares of C4 Therapeutics in the third quarter worth approximately $51,000. Kazazian Asset Management LLC purchased a new position in shares of C4 Therapeutics in the fourth quarter worth approximately $51,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of C4 Therapeutics in the fourth quarter worth approximately $54,000. Finally, Cynosure Group LLC purchased a new position in shares of C4 Therapeutics in the third quarter worth approximately $57,000. 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.