Brokerages Set C4 Therapeutics, Inc. (NASDAQ:CCCC) Target Price at $7.75

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $7.75.

Several brokerages have recently issued reports on CCCC. Barclays upped their price objective on C4 Therapeutics from $5.00 to $7.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Wall Street Zen upgraded C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. upped their price objective on C4 Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Monday, April 20th. Finally, TD Cowen reiterated a “buy” rating on shares of C4 Therapeutics in a research report on Thursday, February 26th.

Hedge Funds Weigh In On C4 Therapeutics

Large investors have recently added to or reduced their stakes in the business. Zacks Investment Management purchased a new position in C4 Therapeutics during the third quarter worth about $29,000. Sei Investments Co. purchased a new position in C4 Therapeutics during the first quarter worth about $66,000. Renaissance Technologies LLC lifted its position in C4 Therapeutics by 53.6% during the first quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company’s stock worth $6,475,000 after buying an additional 859,235 shares during the period. Seven Fleet Capital Management LP purchased a new position in C4 Therapeutics during the first quarter worth about $150,000. Finally, SummitTX Capital L.P. purchased a new position in C4 Therapeutics during the first quarter worth about $28,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

C4 Therapeutics Stock Up 8.1%

Shares of NASDAQ:CCCC opened at $3.87 on Friday. C4 Therapeutics has a 52-week low of $1.36 and a 52-week high of $4.60. The stock’s fifty day simple moving average is $3.23 and its 200-day simple moving average is $2.65. The company has a market capitalization of $427.91 million, a P/E ratio of -3.25 and a beta of 2.92.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.05. C4 Therapeutics had a negative return on equity of 50.68% and a negative net margin of 297.76%.The business had revenue of $6.15 million for the quarter, compared to the consensus estimate of $4.42 million. On average, sell-side analysts anticipate that C4 Therapeutics will post -0.87 earnings per share for the current year.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.