C4 Therapeutics (NASDAQ:CCCC – Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued to investors on Monday, Briefing.com reports. The brokerage currently has a $6.00 target price on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 9.69% from the company’s previous close.
Several other research analysts have also commented on CCCC. BMO Capital Markets cut their price target on C4 Therapeutics from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. HC Wainwright lowered their price objective on shares of C4 Therapeutics from $17.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. Bank of America decreased their target price on shares of C4 Therapeutics from $5.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, October 9th. Morgan Stanley upgraded C4 Therapeutics from an “underweight” rating to an “equal weight” rating in a research report on Monday, November 6th. Finally, Stifel Nicolaus upgraded C4 Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the company from $2.00 to $12.00 in a research note on Wednesday, December 13th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, C4 Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $9.78.
C4 Therapeutics Price Performance
CCCC stock opened at $5.47 on Monday. C4 Therapeutics has a twelve month low of $1.06 and a twelve month high of $8.42. The company’s 50 day moving average is $4.34 and its two-hundred day moving average is $3.15.
C4 Therapeutics (NASDAQ:CCCC – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.65) by $0.10. C4 Therapeutics had a negative return on equity of 53.89% and a negative net margin of 663.05%. The company had revenue of $11.07 million for the quarter, compared to analyst estimates of $6.94 million. On average, equities research analysts expect that C4 Therapeutics will post -2.52 earnings per share for the current fiscal year.
Institutional Trading of C4 Therapeutics
A number of institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its position in shares of C4 Therapeutics by 144.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,382 shares of the company’s stock valued at $26,000 after acquiring an additional 5,546 shares during the period. Tudor Investment Corp Et Al acquired a new position in C4 Therapeutics during the third quarter worth $28,000. ExodusPoint Capital Management LP acquired a new position in C4 Therapeutics during the first quarter worth $33,000. FNY Investment Advisers LLC purchased a new stake in C4 Therapeutics during the fourth quarter worth $49,000. Finally, Citigroup Inc. grew its holdings in C4 Therapeutics by 1,196.8% in the second quarter. Citigroup Inc. now owns 18,402 shares of the company’s stock valued at $51,000 after purchasing an additional 16,983 shares during the last quarter. Hedge funds and other institutional investors own 74.88% of the company’s stock.
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.