C4 Therapeutics (NASDAQ:CCCC) Stock Rating Lowered by Wall Street Zen

C4 Therapeutics (NASDAQ:CCCC) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

CCCC has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Thursday, October 15th. Guggenheim cut their price objective on C4 Therapeutics from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday. Evercore downgraded shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 2nd. Lake Street Capital assumed coverage on shares of C4 Therapeutics in a research report on Wednesday, October 28th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, JPMorgan Chase & Co. initiated coverage on C4 Therapeutics in a research report on Friday, October 9th. They set an “overweight” rating and a $10.00 target price on the stock. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, C4 Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

C4 Therapeutics Stock Performance

NASDAQ CCCC opened at $3.10 on Friday. C4 Therapeutics has a 52-week low of $1.69 and a 52-week high of $5.17. The business has a 50 day simple moving average of $3.22 and a 200 day simple moving average of $3.22. The stock has a market cap of $381.39 million, a price-to-earnings ratio of -4.31 and a beta of 3.16.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. The company had revenue of $8.47 million for the quarter, compared to analysts’ expectations of $8.52 million. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%. On average, analysts predict that C4 Therapeutics will post -0.81 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Velan Capital Investment Management LP acquired a new position in C4 Therapeutics during the second quarter valued at approximately $2,662,000. Renaissance Technologies LLC grew its position in C4 Therapeutics by 53.6% in the first quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company’s stock worth $6,475,000 after acquiring an additional 859,235 shares in the last quarter. Wasatch Advisors LP grew its position in shares of C4 Therapeutics by 18.9% in the 2nd quarter. Wasatch Advisors LP now owns 3,522,644 shares of the company’s stock worth $16,451,000 after buying an additional 560,883 shares during the last quarter. Stempoint Capital LP purchased a new position in C4 Therapeutics in the 1st quarter valued at about $1,192,000. Finally, Headlands Technologies LLC acquired a new stake in shares of C4 Therapeutics in the second quarter valued at $719,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

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 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.