Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC – Get Rating) have been assigned a consensus recommendation of “Hold” from the ten brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $16.89.
A number of research analysts have commented on the stock. SVB Leerink reiterated an “outperform” rating on shares of C4 Therapeutics in a research note on Wednesday, October 26th. Wells Fargo & Company reduced their price target on shares of C4 Therapeutics from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 3rd. JPMorgan Chase & Co. downgraded shares of C4 Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $15.00 in a research report on Friday, November 4th. Finally, Morgan Stanley initiated coverage on shares of C4 Therapeutics in a research report on Tuesday, October 11th. They issued an “underweight” rating and a $6.00 price target on the stock.
Institutional Trading of C4 Therapeutics
A number of large investors have recently modified their holdings of CCCC. Lazard Asset Management LLC acquired a new stake in shares of C4 Therapeutics in the 3rd quarter worth about $41,000. Ensign Peak Advisors Inc increased its holdings in shares of C4 Therapeutics by 182.4% in the 3rd quarter. Ensign Peak Advisors Inc now owns 7,230 shares of the company’s stock worth $63,000 after acquiring an additional 4,670 shares during the period. Legal & General Group Plc increased its holdings in shares of C4 Therapeutics by 49.5% in the 2nd quarter. Legal & General Group Plc now owns 11,346 shares of the company’s stock worth $86,000 after acquiring an additional 3,755 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of C4 Therapeutics in the 2nd quarter worth about $87,000. Finally, Credit Suisse AG increased its holdings in shares of C4 Therapeutics by 17.5% in the 2nd quarter. Credit Suisse AG now owns 11,664 shares of the company’s stock worth $88,000 after acquiring an additional 1,740 shares during the period. Institutional investors and hedge funds own 80.33% of the company’s stock.
C4 Therapeutics Trading Up 0.7 %
C4 Therapeutics (NASDAQ:CCCC – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.65) EPS for the quarter, meeting analysts’ consensus estimates of ($0.65). C4 Therapeutics had a negative net margin of 220.71% and a negative return on equity of 30.11%. The firm had revenue of $6.75 million for the quarter, compared to the consensus estimate of $9.72 million. As a group, research analysts predict that C4 Therapeutics will post -2.6 earnings per share for the current fiscal year.
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.
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