C4 Therapeutics (NASDAQ:CCCC) Trading Up 7.3%

C4 Therapeutics (NASDAQ:CCCC) Trading Up 7.3%

C4 Therapeutics, Inc. (NASDAQ:CCCC – Get Free Report)’s stock price traded up 7.3% on Tuesday . The stock traded as high as $8.79 and last traded at $8.79. 1,023,251 shares were traded during trading, a decline of 78% from the average session volume of 4,656,773 shares. The stock had previously closed at $8.19.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CCCC shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $13.00 target price (up from $12.00) on shares of C4 Therapeutics in a report on Friday, February 23rd. JPMorgan Chase & Co. upgraded shares of C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 target price for the company in a research note on Monday, January 29th. Finally, Morgan Stanley upped their price target on shares of C4 Therapeutics to $8.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.25.

C4 Therapeutics Trading Up 6.1 %

The company’s fifty day simple moving average is $7.78 and its 200 day simple moving average is $4.39. The stock has a market capitalization of $596.13 million, a P/E ratio of -3.26 and a beta of 3.24.

C4 Therapeutics (NASDAQ:CCCC – Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.01). C4 Therapeutics had a negative net margin of 638.34% and a negative return on equity of 55.30%. The company had revenue of $3.26 million during the quarter, compared to analysts’ expectations of $5.23 million. Equities research analysts predict that C4 Therapeutics, Inc. will post -1.86 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Commodore Capital LP bought a new stake in C4 Therapeutics during the 4th quarter valued at $21,470,000. Point72 Asset Management L.P. increased its position in C4 Therapeutics by 12,142.4% during the 4th quarter. Point72 Asset Management L.P. now owns 1,961,359 shares of the company’s stock valued at $11,082,000 after purchasing an additional 1,945,338 shares during the period. Balyasny Asset Management L.P. purchased a new stake in C4 Therapeutics in the fourth quarter worth about $9,629,000. State Street Corp raised its holdings in C4 Therapeutics by 173.8% in the third quarter. State Street Corp now owns 1,961,812 shares of the company’s stock worth $17,205,000 after purchasing an additional 1,245,369 shares in the last quarter. Finally, Lynx1 Capital Management LP bought a new stake in C4 Therapeutics during the third quarter worth about $1,896,000. 74.88% of the stock is currently owned by institutional investors.

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.

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