The price of C4 Therapeutics Inc. (NASDAQ:CCCC) shares last traded on Wall Street fell -9.16% to $3.37.
Based on available information, 12 analysts follow C4 Therapeutics Inc. (NASDAQ:CCCC). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $84.00 and a low of $3.00, we find $10.00. Given the previous closing price of $3.71, this indicates a potential upside of 169.54 percent. CCCC stock price is now 4.83% away from the 50-day moving average and -43.11% away from the 200-day moving average. The market capitalization of the company currently stands at $182.01M.
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Among analysts, 4 rate the stock a hold while 6 rate it a buy. Brokers who have rated the stock have averaged $20.27 as their price target over the next twelve months.
With the price target reduced from $12 to $10, Credit Suisse Upgraded its rating from Underperform to Neutral for C4 Therapeutics Inc. (NASDAQ: CCCC).
In other news, Koppikar Utpal, Director bought 5,667 shares of the company’s stock on Feb 08. The stock was bought for $31,735 at an average price of $5.60. Upon completion of the transaction, the Director now directly owns 5,667 shares in the company, valued at $19097.79. Insiders disposed of 12,046 shares of company stock worth roughly $40595.020000000004 over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CCCC stock. A new stake in C4 Therapeutics Inc. shares was purchased by TCG CROSSOVER MANAGEMENT, LLC during the first quarter worth $4,213,000. MILLENNIUM MANAGEMENT LLC invested $517,000 in shares of CCCC during the first quarter. In the first quarter, HRT FINANCIAL LP acquired a new stake in C4 Therapeutics Inc. valued at approximately $403,000. MARSHALL WACE, LLP acquired a new stake in CCCC for approximately $382,000. PANAGORA ASSET MANAGEMENT INC purchased a new stake in CCCC valued at around $364,000 in the second quarter. In total, there are 173 active investors with 82.30% ownership of the company’s stock.
During the past 12 months, C4 Therapeutics Inc. has had a low of $2.60 and a high of $13.23. As of last week, the company has a debt-to-equity ratio of 0.04, a current ratio of 7.10, and a quick ratio of 7.10. The fifty day moving average price for CCCC is $3.2210 and a two-hundred day moving average price translates $5.8952 for the stock.
The latest earnings results from C4 Therapeutics Inc. (NASDAQ: CCCC) was released for Mar, 2023. According to the Biotechnology Company, earnings per share came in at -$0.71, beating analysts’ expectations of -$0.75 by 0.04. This compares to -$0.65 EPS in the same period last year. The company reported revenue of $3.76 million for the quarter, compared to $7.65 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -50.89 percent. For the current quarter, analysts expect CCCC to generate $6.44M in revenue.
C4 Therapeutics Inc.(CCCC) Company Profile
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. The company is also developing CFT8634, an orally bioavailable BiDAC degrader of BRD9, a protein target for synovial sarcoma and SMARCB1-deleted solid tumors; CFT1946, an orally bioavailable BiDAC degrader targeting V600X mutant BRAF to treat melanoma, non-small cell lung cancer (NSCLC), colorectal cancer, and other solid malignancies; CFT8919, an orally bioavailable, allosteric, and mutant-selective BiDAC degrader of epidermal growth factor receptor, or EGFR, with an L858R mutation in NSCLC; and earlier stage programs comprising RET degraders for the treatment of various cancers. C4 Therapeutics, Inc. has strategic collaborations with F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc.; Biogen MA, Inc.; and Calico Life Sciences LLC. The company was incorporated in 2015 and is headquartered in Watertown, Massachusetts.
