C4 Therapeutics (NASDAQ:CCCC) Stock Rated Overweight in New Coverage at JPMorgan Chase & Co.

Equities research analysts at JPMorgan Chase & Co. initiated coverage on shares of C4 Therapeutics (NASDAQ:CCCC) in a report issued on Friday, Briefing.com reports. The brokerage set an “overweight” rating and a $10.00 price target on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 250.88% from the company’s current price.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, C4 Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

C4 Therapeutics Trading Up 1.1%

Shares of CCCC opened at $2.85 on Friday. The firm has a market cap of $350.64 million, a PE ratio of -2.85 and a beta of 3.07. The firm has a fifty day simple moving average of $3.58 and a two-hundred day simple moving average of $3.51. C4 Therapeutics has a 1-year low of $1.69 and a 1-year high of $5.17.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.05. The firm had revenue of $6.64 million for the quarter, compared to analysts’ expectations of $4.00 million. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%. As a group, research analysts forecast that C4 Therapeutics will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On C4 Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. SummitTX Capital L.P. purchased a new stake in C4 Therapeutics in the 1st quarter worth $28,000. CTC Alternative Strategies Ltd. bought a new stake in shares of C4 Therapeutics in the first quarter worth about $28,000. Sei Investments Co. purchased a new stake in shares of C4 Therapeutics in the first quarter worth about $66,000. ADAR1 Capital Management LLC purchased a new stake in shares of C4 Therapeutics in the first quarter worth about $113,000. Finally, Readystate Asset Management LP bought a new position in C4 Therapeutics during the first quarter valued at approximately $130,000. Institutional investors own 78.81% of the company’s stock.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses targeted protein degradation, an approach designed to direct the body’s natural cellular machinery to identify and remove specific proteins that contribute to cancer and other diseases.

C4 Therapeutics’ proprietary TORPEDO platform is used to discover and develop small-molecule protein degraders. Its research and development programs have included therapies aimed at targets implicated in blood cancers, solid tumors and genetically defined cancers, including programs directed at IKZF1/3, BRD9 and mutant BRAF.