Analysts Set C4 Therapeutics, Inc. (NASDAQ:CCCC) Price Target at $9.29

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned a consensus rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $9.29.

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

C4 Therapeutics Trading Up 0.5 %

Shares of CCCC stock opened at $6.44 on Wednesday. The company’s fifty day moving average price is $6.09 and its 200-day moving average price is $6.55. The stock has a market cap of $446.55 million, a PE ratio of -2.72 and a beta of 3.05. C4 Therapeutics has a 12 month low of $1.06 and a 12 month high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) EPS 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 business had revenue of $12.01 million for the quarter, compared to analyst estimates of $6.88 million. On average, sell-side analysts forecast that C4 Therapeutics will post -1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C4 Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. purchased a new stake in C4 Therapeutics during the 2nd quarter valued at $51,000. Susquehanna Fundamental Investments LLC boosted its position in shares of C4 Therapeutics by 152.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 129,801 shares of the company’s stock valued at $600,000 after buying an additional 78,436 shares during the last quarter. Lynx1 Capital Management LP boosted its position in shares of C4 Therapeutics by 89.3% during the second quarter. Lynx1 Capital Management LP now owns 6,880,527 shares of the company’s stock valued at $31,788,000 after buying an additional 3,245,865 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new stake in C4 Therapeutics in the 2nd quarter worth about $125,000. Finally, American Century Companies Inc. raised its position in C4 Therapeutics by 23.9% in the 2nd quarter. American Century Companies Inc. now owns 110,075 shares of the company’s stock worth $509,000 after buying an additional 21,225 shares during the last quarter. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

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.