Analysts Set C4 Therapeutics, Inc. (NASDAQ:CCCC) Price Target at $10.50

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have received an average rating of “Hold” from the five research firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $11.20.

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

C4 Therapeutics Trading Down 2.0 %

Shares of CCCC opened at $5.97 on Thursday. The company’s 50 day simple moving average is $5.99 and its 200-day simple moving average is $5.78. C4 Therapeutics has a 12-month low of $1.06 and a 12-month high of $11.88. The firm has a market cap of $421.24 million, a PE ratio of -3.51 and a beta of 3.04.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.05. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. The company had revenue of $15.36 million for the quarter, compared to the consensus estimate of $5.95 million. As a group, equities research analysts forecast that C4 Therapeutics will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On C4 Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of C4 Therapeutics by 46.0% in the 1st quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock valued at $23,857,000 after buying an additional 920,627 shares during the period. Acadian Asset Management LLC raised its position in C4 Therapeutics by 415.8% in the second quarter. Acadian Asset Management LLC now owns 113,436 shares of the company’s stock worth $524,000 after acquiring an additional 91,443 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in C4 Therapeutics in the second quarter valued at $881,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of C4 Therapeutics during the 2nd quarter worth $660,000. Finally, Entropy Technologies LP acquired a new position in shares of C4 Therapeutics during the 1st quarter worth $126,000. 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.