Brokerages Set C4 Therapeutics, Inc. (NASDAQ:CCCC) PT at $9.29

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been given an average recommendation of “Hold” by the seven analysts that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $9.29.

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

C4 Therapeutics Price Performance

Shares of CCCC stock opened at $6.46 on Wednesday. The firm has a fifty day moving average of $6.16 and a two-hundred day moving average of $6.43. The firm has a market cap of $444.49 million, a P/E ratio of -2.73 and a beta of 3.05. C4 Therapeutics has a 1-year low of $1.06 and a 1-year high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.11. The business 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 44.60% and a negative net margin of 367.17%. On average, sell-side analysts expect that C4 Therapeutics will post -1.57 EPS for the current year.

Institutional Investors Weigh In On C4 Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in shares of C4 Therapeutics during the second quarter worth about $45,000. B. Riley Wealth Advisors Inc. acquired a new position in C4 Therapeutics during the 2nd quarter valued at about $51,000. Entropy Technologies LP bought a new position in C4 Therapeutics in the 1st quarter worth about $126,000. Caxton Associates LP acquired a new stake in shares of C4 Therapeutics in the first quarter valued at approximately $172,000. Finally, American Century Companies Inc. raised its holdings in shares of C4 Therapeutics by 23.9% during the second quarter. American Century Companies Inc. now owns 110,075 shares of the company’s stock valued at $509,000 after buying an additional 21,225 shares during the last quarter. 78.81% of the stock is owned by institutional investors and hedge funds.

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.