C4 Therapeutics, Inc. (NASDAQ:CCCC – Get Free Report) was down 6.8% during trading on Thursday . The stock traded as low as $9.92 and last traded at $10.00. Approximately 560,028 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 4,541,223 shares. The stock had previously closed at $10.73.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Morgan Stanley raised their price objective on C4 Therapeutics to $8.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 target price (up previously from $12.00) on shares of C4 Therapeutics in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. upgraded C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 target price for the company in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.25.
C4 Therapeutics Stock Down 11.4 %
The firm has a market cap of $652.40 million, a price-to-earnings ratio of -3.67 and a beta of 3.24. The company has a 50-day moving average price of $7.64 and a 200 day moving average price of $4.25.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCCC. Tower Research Capital LLC TRC boosted its stake in shares of C4 Therapeutics by 144.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,382 shares of the company’s stock valued at $26,000 after buying an additional 5,546 shares during the period. Tudor Investment Corp Et Al acquired a new stake in C4 Therapeutics during the third quarter valued at $28,000. ExodusPoint Capital Management LP purchased a new position in C4 Therapeutics in the first quarter valued at about $33,000. Headlands Technologies LLC acquired a new position in C4 Therapeutics in the 4th quarter worth about $39,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of C4 Therapeutics during the 4th quarter worth about $49,000. 74.88% of the stock is owned by hedge funds and other institutional investors.
C4 Therapeutics 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.