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

C4 Therapeutics, Inc. (NASDAQ:CCCC) has received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $10.50.

Separately, BMO Capital Markets reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of C4 Therapeutics in a research note on Tuesday, August 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in shares of C4 Therapeutics in the 2nd quarter valued at about $45,000. B. Riley Wealth Advisors Inc. acquired a new stake in C4 Therapeutics in the second quarter valued at approximately $51,000. Entropy Technologies LP purchased a new position in C4 Therapeutics in the first quarter worth approximately $126,000. Caxton Associates LP acquired a new position in C4 Therapeutics during the 1st quarter worth approximately $172,000. Finally, SG Americas Securities LLC purchased a new stake in shares of C4 Therapeutics in the 1st quarter valued at approximately $183,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

C4 Therapeutics Stock Performance

C4 Therapeutics stock opened at $5.53 on Thursday. The company’s 50 day simple moving average is $6.04 and its 200-day simple moving average is $5.81. C4 Therapeutics has a 1 year low of $1.06 and a 1 year high of $11.88. The company has a market capitalization of $383.44 million, a price-to-earnings ratio of -2.91 and a beta of 3.04.

C4 Therapeutics (NASDAQ:CCCC) last announced its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.11. C4 Therapeutics had a negative return on equity of 44.60% and a negative net margin of 367.17%. The company had revenue of $12.01 million for the quarter, compared to analyst estimates of $6.88 million. Equities analysts expect that C4 Therapeutics will post -1.57 earnings per share for the current year.

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.