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

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $11.60.

A number of brokerages have weighed in on CCCC. Wells Fargo & Company raised shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $8.00 to $12.00 in a research note on Thursday, December 19th. UBS Group upgraded C4 Therapeutics to a “hold” rating in a research note on Friday, February 14th. Finally, Stephens initiated coverage on C4 Therapeutics in a research note on Monday, November 18th. They issued an “equal weight” rating and a $4.00 target price on the stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Intech Investment Management LLC increased its stake in shares of C4 Therapeutics by 11.1% in the 4th quarter. Intech Investment Management LLC now owns 30,150 shares of the company’s stock valued at $109,000 after purchasing an additional 3,024 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of C4 Therapeutics by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 486,366 shares of the company’s stock valued at $1,751,000 after buying an additional 3,437 shares during the period. Rhumbline Advisers lifted its position in C4 Therapeutics by 4.6% in the fourth quarter. Rhumbline Advisers now owns 100,015 shares of the company’s stock valued at $360,000 after buying an additional 4,366 shares during the last quarter. Invesco Ltd. grew its stake in shares of C4 Therapeutics by 7.2% in the fourth quarter. Invesco Ltd. now owns 69,193 shares of the company’s stock valued at $249,000 after buying an additional 4,647 shares in the last quarter. Finally, Northern Trust Corp increased its stake in C4 Therapeutics by 1.1% during the fourth quarter. Northern Trust Corp now owns 495,043 shares of the company’s stock worth $1,782,000 after purchasing an additional 5,223 shares during the period. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Stock Performance

Shares of NASDAQ:CCCC opened at $2.98 on Wednesday. C4 Therapeutics has a 52-week low of $2.97 and a 52-week high of $11.88. The firm has a market capitalization of $210.36 million, a P/E ratio of -1.75 and a beta of 2.95. The stock has a 50 day moving average price of $3.73 and a 200-day moving average price of $4.96.

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.