C4 Therapeutics (NASDAQ:CCCC) Hits New 12-Month High – Here’s What Happened

C4 Therapeutics, Inc. (NASDAQ:CCCC)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $4.76 and last traded at $4.5890, with a volume of 1095638 shares trading hands. The stock had previously closed at $4.35.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a report on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.75.

C4 Therapeutics Trading Down 7.1%

The stock has a market cap of $479.87 million, a price-to-earnings ratio of -3.65 and a beta of 2.90. The firm’s 50-day moving average is $3.63 and its two-hundred day moving average is $2.82.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.05. C4 Therapeutics had a negative return on equity of 50.68% and a negative net margin of 297.76%.The company had revenue of $6.15 million for the quarter, compared to analysts’ expectations of $4.42 million. On average, analysts predict that C4 Therapeutics, Inc. will post -0.87 earnings per share for the current year.

Institutional Trading of C4 Therapeutics

Several large investors have recently made changes to their positions in CCCC. SummitTX Capital L.P. acquired a new position in C4 Therapeutics in the 1st quarter valued at $28,000. CTC Alternative Strategies Ltd. acquired a new stake in C4 Therapeutics during the 1st quarter worth $28,000. Zacks Investment Management acquired a new stake in C4 Therapeutics during the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of C4 Therapeutics during the third quarter worth $43,000. Finally, Delta Investment Management LLC purchased a new stake in shares of C4 Therapeutics during the fourth quarter worth $38,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.