TD Cowen Initiates Coverage on C4 Therapeutics (NASDAQ:CCCC)

Analysts at TD Cowen started coverage on shares of C4 Therapeutics (NASDAQ:CCCC) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “buy” rating on the stock.

Other equities research analysts have also issued research reports about the company. Barclays boosted their price target on C4 Therapeutics from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Monday, September 22nd. Wells Fargo & Company boosted their price objective on shares of C4 Therapeutics from $5.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, September 23rd. Zacks Research downgraded C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 22nd. Guggenheim started coverage on C4 Therapeutics in a research report on Wednesday, September 3rd. They set a “buy” rating and a $8.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, C4 Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

C4 Therapeutics Trading Up 15.6%

Shares of C4 Therapeutics stock opened at $2.81 on Tuesday. C4 Therapeutics has a 12 month low of $1.09 and a 12 month high of $5.10. The firm has a market cap of $272.32 million, a P/E ratio of -1.68 and a beta of 2.87. The stock’s fifty day moving average price is $2.40 and its 200-day moving average price is $2.20.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.03. The firm had revenue of $11.23 million for the quarter, compared to the consensus estimate of $6.28 million. C4 Therapeutics had a negative net margin of 395.51% and a negative return on equity of 64.40%. Analysts forecast that C4 Therapeutics will post -1.52 earnings per share for the current year.

Institutional Trading of C4 Therapeutics

Several large investors have recently added to or reduced their stakes in CCCC. Zacks Investment Management purchased a new position in shares of C4 Therapeutics during the 3rd quarter worth $29,000. Dynamic Technology Lab Private Ltd acquired a new stake in C4 Therapeutics during the second quarter worth about $31,000. Savant Capital LLC purchased a new position in C4 Therapeutics during the second quarter worth about $38,000. Catalyst Funds Management Pty Ltd purchased a new position in C4 Therapeutics during the second quarter worth about $40,000. Finally, Crestwood Advisors Group LLC acquired a new position in C4 Therapeutics in the 2nd quarter valued at about $41,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

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.