C4 Therapeutics, Inc. (NASDAQ:CCCC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $10.25.

Several research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 price target on the stock in a report on Monday, January 29th. Stifel Nicolaus reiterated a “buy” rating and set a $13.00 price target (up previously from $12.00) on shares of C4 Therapeutics in a report on Friday, February 23rd. Finally, Morgan Stanley lifted their price target on C4 Therapeutics to $8.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th.

C4 Therapeutics Stock Performance

C4 Therapeutics stock opened at $7.41 on Friday. C4 Therapeutics has a 1 year low of $1.06 and a 1 year high of $11.88. The company’s fifty day moving average price is $8.45 and its 200 day moving average price is $5.13. The stock has a market capitalization of $508.33 million, a P/E ratio of -2.78 and a beta of 3.18.

C4 Therapeutics (NASDAQ:CCCC) last announced its earnings results on Thursday, February 22nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.01). C4 Therapeutics had a negative return on equity of 55.30% and a negative net margin of 638.34%. The business had revenue of $3.26 million for the quarter, compared to analyst estimates of $5.23 million. Sell-side analysts predict that C4 Therapeutics will post -1.86 EPS for the current year.

Institutional Trading of C4 Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss National Bank increased its stake in C4 Therapeutics by 7.9% during the first quarter. Swiss National Bank now owns 28,800 shares of the company’s stock worth $699,000 after purchasing an additional 2,100 shares during the period. JPMorgan Chase & Co. increased its stake in C4 Therapeutics by 141.7% during the first quarter. JPMorgan Chase & Co. now owns 69,420 shares of the company’s stock worth $1,684,000 after purchasing an additional 40,698 shares during the period. Bank of New York Mellon Corp increased its stake in C4 Therapeutics by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 127,072 shares of the company’s stock worth $3,083,000 after purchasing an additional 1,601 shares during the period. MetLife Investment Management LLC increased its stake in C4 Therapeutics by 58.5% during the first quarter. MetLife Investment Management LLC now owns 21,112 shares of the company’s stock worth $512,000 after purchasing an additional 7,792 shares during the period. Finally, Rhumbline Advisers increased its stake in C4 Therapeutics by 6.3% during the first quarter. Rhumbline Advisers now owns 40,699 shares of the company’s stock worth $987,000 after purchasing an additional 2,423 shares during the period. 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.