C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives Average Rating of “Hold” from Analysts

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC – Get Rating) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $9.83.

A number of research firms recently weighed in on CCCC. Bank of America reduced their price objective on shares of C4 Therapeutics from $11.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 28th. Credit Suisse Group upgraded shares of C4 Therapeutics from an “underperform” rating to a “neutral” rating and dropped their target price for the stock from $12.00 to $10.00 in a research note on Friday, February 24th. HC Wainwright dropped their target price on shares of C4 Therapeutics from $35.00 to $25.00 in a research note on Monday, May 8th. JPMorgan Chase & Co. downgraded shares of C4 Therapeutics from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $15.00 to $5.00 in a research note on Friday, February 24th. Finally, Morgan Stanley decreased their target price on shares of C4 Therapeutics from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Monday, February 27th.

C4 Therapeutics Stock Up 2.2 %

Shares of NASDAQ CCCC opened at $3.23 on Thursday. The firm’s 50-day moving average price is $3.30 and its 200-day moving average price is $5.76. The company has a current ratio of 7.07, a quick ratio of 7.07 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $158.46 million, a price-to-earnings ratio of -1.21 and a beta of 2.11. C4 Therapeutics has a 12-month low of $2.85 and a 12-month high of $13.23.

C4 Therapeutics (NASDAQ:CCCC – Get Rating) last announced its earnings results on Thursday, February 23rd. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.04). C4 Therapeutics had a negative net margin of 482.83% and a negative return on equity of 43.26%. The business had revenue of $2.85 million for the quarter, compared to analysts’ expectations of $8.56 million. On average, equities research analysts anticipate that C4 Therapeutics will post -2.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ExodusPoint Capital Management LP purchased a new position in shares of C4 Therapeutics during the first quarter worth $33,000. Lazard Asset Management LLC acquired a new position in C4 Therapeutics during the third quarter worth about $41,000. B. Metzler seel. Sohn & Co. AG acquired a new position in C4 Therapeutics during the first quarter worth about $57,000. Ensign Peak Advisors Inc raised its stake in C4 Therapeutics by 182.4% during the third quarter. Ensign Peak Advisors Inc now owns 7,230 shares of the company’s stock worth $63,000 after purchasing an additional 4,670 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in C4 Therapeutics during the fourth quarter worth about $67,000. Hedge funds and other institutional investors own 80.33% of the company’s stock.

About C4 Therapeutics

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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.