C4 Therapeutics, Inc. (NASDAQ:CCCC) Given Consensus Rating of “Moderate Buy” by Analysts

C4 Therapeutics, Inc. (NASDAQ:CCCC) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $7.25.

Several brokerages have commented on CCCC. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Wednesday, January 21st. TD Cowen assumed coverage on shares of C4 Therapeutics in a report on Tuesday, December 2nd. They issued a “buy” rating on the stock. Finally, Barclays reduced their price objective on shares of C4 Therapeutics from $10.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th.

C4 Therapeutics Price Performance

Shares of CCCC stock opened at $1.90 on Friday. The stock has a market capitalization of $184.13 million, a price-to-earnings ratio of -1.14 and a beta of 2.93. The company’s fifty day simple moving average is $2.25 and its two-hundred day simple moving average is $2.38. C4 Therapeutics has a 1 year low of $1.09 and a 1 year high of $3.84.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP raised its position in shares of C4 Therapeutics by 10.4% in the second quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company’s stock worth $10,617,000 after buying an additional 700,253 shares in the last quarter. Jane Street Group LLC increased its stake in C4 Therapeutics by 3,816.8% in the 2nd quarter. Jane Street Group LLC now owns 492,612 shares of the company’s stock worth $704,000 after acquiring an additional 480,035 shares during the last quarter. Shay Capital LLC purchased a new stake in shares of C4 Therapeutics in the 3rd quarter valued at about $932,000. BNP Paribas Financial Markets boosted its position in shares of C4 Therapeutics by 1,039.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 206,177 shares of the company’s stock valued at $295,000 after acquiring an additional 188,081 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of C4 Therapeutics by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,191,557 shares of the company’s stock valued at $7,085,000 after acquiring an additional 173,535 shares during the last quarter. Institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Company Profile

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.