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

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

A number of research analysts have recently commented on the company. UBS Group raised C4 Therapeutics to a “hold” rating in a research report on Friday, February 14th. Wells Fargo & Company upgraded shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $12.00 in a research report on Thursday, December 19th. 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 for the company.

Institutional Investors Weigh In On C4 Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new position in shares of C4 Therapeutics in the fourth quarter valued at about $45,000. Point72 DIFC Ltd purchased a new position in C4 Therapeutics during the 3rd quarter valued at about $51,000. Kazazian Asset Management LLC bought a new position in C4 Therapeutics during the 4th quarter valued at approximately $51,000. China Universal Asset Management Co. Ltd. purchased a new stake in C4 Therapeutics in the 4th quarter worth approximately $54,000. Finally, Cynosure Group LLC bought a new stake in shares of C4 Therapeutics in the 3rd quarter worth approximately $57,000. 78.81% of the stock is currently owned by institutional investors.

C4 Therapeutics Trading Down 6.3 %

Shares of NASDAQ CCCC opened at $2.98 on Wednesday. C4 Therapeutics has a 1-year low of $2.97 and a 1-year high of $11.88. The firm’s 50-day moving average price is $3.73 and its 200-day moving average price is $4.96. The firm has a market capitalization of $210.36 million, a P/E ratio of -1.75 and a beta of 2.95.

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.