C4 Therapeutics (NASDAQ:CCCC) Downgraded by Evercore to “Hold”

Evercore lowered shares of C4 Therapeutics (NASDAQ:CCCC) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks reports.

Several other equities analysts have also commented on CCCC. Lake Street Capital initiated coverage on C4 Therapeutics in a report on Wednesday, October 28th. They set a “buy” rating and a $11.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a report on Thursday, October 15th. Finally, JPMorgan Chase & Co. started coverage on C4 Therapeutics in a research report on Friday, October 9th. They set an “overweight” rating and a $10.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, C4 Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $9.33.

C4 Therapeutics Stock Performance

C4 Therapeutics stock opened at $3.21 on Monday. The firm’s 50-day moving average is $3.31 and its 200-day moving average is $3.21. C4 Therapeutics has a 1 year low of $1.69 and a 1 year high of $5.17. The company has a market cap of $394.91 million, a P/E ratio of -3.21 and a beta of 3.07.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 45.45%. The business had revenue of $6.64 million during the quarter, compared to the consensus estimate of $4.00 million. As a group, sell-side analysts predict that C4 Therapeutics will post -0.81 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. raised its stake in C4 Therapeutics by 44.2% during the 3rd quarter. Alps Advisors Inc. now owns 161,828 shares of the company’s stock valued at $539,000 after acquiring an additional 49,614 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of C4 Therapeutics by 27.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 22,447 shares of the company’s stock worth $70,000 after purchasing an additional 4,850 shares in the last quarter. Congress Asset Management Co. grew its stake in shares of C4 Therapeutics by 25.2% in the third quarter. Congress Asset Management Co. now owns 1,256,692 shares of the company’s stock worth $4,185,000 after purchasing an additional 253,255 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of C4 Therapeutics by 320.1% in the second quarter. Squarepoint Ops LLC now owns 170,834 shares of the company’s stock worth $798,000 after purchasing an additional 130,170 shares in the last quarter. Finally, Seven Fleet Capital Management LP increased its holdings in shares of C4 Therapeutics by 567.8% during the second quarter. Seven Fleet Capital Management LP now owns 381,169 shares of the company’s stock valued at $1,780,000 after purchasing an additional 324,093 shares during the period. Institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary TORPEDO platform to design targeted protein degraders, which are intended to direct specific proteins to the cell’s natural disposal system rather than simply blocking their activity.

C4 Therapeutics has concentrated its research and development efforts primarily on oncology, including programs aimed at genetically defined cancers and difficult-to-treat tumors.