C4 Therapeutics’ (CCCC) “Outperform” Rating Reiterated at BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of C4 Therapeutics (NASDAQ:CCCC) in a research report sent to investors on Tuesday morning, Benzinga reports. BMO Capital Markets currently has a $20.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus upped their target price on shares of C4 Therapeutics from $13.00 to $14.00 and gave the company a buy rating in a research note on Thursday, May 9th. Wells Fargo & Company upped their price objective on shares of C4 Therapeutics from $7.00 to $8.00 and gave the company an equal weight rating in a research report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $9.29.

C4 Therapeutics Stock Down 4.3 %

CCCC stock traded down $0.25 during mid-day trading on Tuesday, reaching $5.54. 117,735 shares of the stock traded hands, compared to its average volume of 2,639,353. The firm has a market capitalization of $381.19 million, a PE ratio of -2.44 and a beta of 3.06. The business has a 50-day moving average of $5.31 and a two-hundred day moving average of $6.64. C4 Therapeutics has a 52 week low of $1.06 and a 52 week high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last announced its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.11. The firm had revenue of $12.01 million during the quarter, compared to the consensus estimate of $6.88 million. C4 Therapeutics had a negative return on equity of 44.92% and a negative net margin of 367.17%. On average, equities research analysts anticipate that C4 Therapeutics will post -1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On C4 Therapeutics

A number of hedge funds have recently made changes to their positions in CCCC. Wasatch Advisors LP boosted its position in shares of C4 Therapeutics by 14.3% during the 4th quarter. Wasatch Advisors LP now owns 7,138,949 shares of the company’s stock valued at $40,335,000 after acquiring an additional 891,808 shares in the last quarter. Commodore Capital LP acquired a new stake in C4 Therapeutics during the fourth quarter valued at approximately $21,470,000. Lynx1 Capital Management LP grew its stake in shares of C4 Therapeutics by 16.0% in the 1st quarter. Lynx1 Capital Management LP now owns 3,634,662 shares of the company’s stock valued at $29,695,000 after purchasing an additional 500,266 shares during the period. Vanguard Group Inc. raised 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 worth $23,857,000 after buying an additional 920,627 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of C4 Therapeutics during the 2nd quarter worth approximately $881,000. Institutional investors and hedge funds 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.