C4 Therapeutics (NASDAQ:CCCC) Posts Quarterly Earnings Results, Beats Expectations By $0.25 EPS

C4 Therapeutics (NASDAQ:CCCC) issued its quarterly earnings data on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.25, FiscalAI reports. C4 Therapeutics had a negative net margin of 395.51% and a negative return on equity of 64.40%. The company had revenue of $11.02 million during the quarter, compared to the consensus estimate of $4.48 million.

C4 Therapeutics Price Performance

CCCC stock traded up $0.01 during trading hours on Thursday, reaching $2.78. The stock had a trading volume of 4,394,993 shares, compared to its average volume of 1,685,858. The stock has a 50-day simple moving average of $2.06 and a 200 day simple moving average of $2.35. C4 Therapeutics has a fifty-two week low of $1.09 and a fifty-two week high of $3.65. The stock has a market capitalization of $269.41 million, a PE ratio of -1.66 and a beta of 2.96.

Analyst Upgrades and Downgrades

CCCC has been the subject of a number of research reports. Barclays reiterated an “overweight” rating and set a $7.00 target price on shares of C4 Therapeutics in a report on Thursday. Brookline Capital Acquisition increased their price objective on C4 Therapeutics from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday. TD Cowen reissued a “buy” rating on shares of C4 Therapeutics in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Wednesday, January 21st. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.20.

Institutional Investors Weigh In On C4 Therapeutics

Several hedge funds have recently bought and sold shares of CCCC. Zacks Investment Management bought a new position in C4 Therapeutics during the third quarter worth about $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of C4 Therapeutics during the 3rd quarter worth approximately $43,000. Virtu Financial LLC bought a new position in shares of C4 Therapeutics during the 4th quarter worth approximately $39,000. Engineers Gate Manager LP increased its holdings in shares of C4 Therapeutics by 49.9% during the 4th quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock worth $47,000 after acquiring an additional 8,130 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in C4 Therapeutics in the 1st quarter valued at $43,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

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.