Analysts Set C4 Therapeutics, Inc. (NASDAQ:CCCC) PT at $8.71

C4 Therapeutics, Inc. (NASDAQ:CCCC) has been given a consensus rating of “Hold” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Four research 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 a report on the stock in the last year is $8.71.

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their target price on shares of C4 Therapeutics from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Stifel Nicolaus upped their price objective on C4 Therapeutics from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, May 9th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CCCC. Wasatch Advisors LP boosted its holdings in C4 Therapeutics by 14.3% in the 4th quarter. Wasatch Advisors LP now owns 7,138,949 shares of the company’s stock valued at $40,335,000 after purchasing an additional 891,808 shares in the last quarter. Commodore Capital LP acquired a new stake in shares of C4 Therapeutics in the 4th quarter valued at approximately $21,470,000. Lynx1 Capital Management LP boosted its stake in shares of C4 Therapeutics by 16.0% in the first quarter. Lynx1 Capital Management LP now owns 3,634,662 shares of the company’s stock valued at $29,695,000 after buying an additional 500,266 shares in the last quarter. Vanguard Group Inc. grew its holdings in C4 Therapeutics by 46.0% during the first quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock worth $23,857,000 after acquiring an additional 920,627 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in C4 Therapeutics in the second quarter worth $881,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

C4 Therapeutics Trading Up 0.6 %

Shares of NASDAQ CCCC opened at $6.54 on Tuesday. The stock has a market cap of $450.02 million, a P/E ratio of -2.76 and a beta of 3.07. C4 Therapeutics has a twelve month low of $1.06 and a twelve month high of $11.88. The stock has a 50 day moving average of $5.19 and a two-hundred day moving average of $6.66.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.41) EPS for the quarter, meeting the consensus estimate of ($0.41). The firm had revenue of $3.04 million during the quarter, compared to the consensus estimate of $10.93 million. C4 Therapeutics had a negative net margin of 629.24% and a negative return on equity of 52.85%. As a group, research analysts predict that C4 Therapeutics will post -1.56 earnings per share for the current 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, currently under Phase 1/2 clinical trials.