C4 Therapeutics, Inc. (NASDAQ:CCCC) Expected to Announce Earnings of -$0.60 Per Share

Equities analysts expect C4 Therapeutics, Inc. (NASDAQ:CCCC) to announce earnings per share (EPS) of ($0.60) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for C4 Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.68) and the highest estimate coming in at ($0.51). The firm is scheduled to report its next earnings results on Thursday, August 12th.

On average, analysts expect that C4 Therapeutics will report full year earnings of ($2.35) per share for the current year, with EPS estimates ranging from ($2.75) to ($2.14). For the next financial year, analysts anticipate that the firm will post earnings of ($2.23) per share, with EPS estimates ranging from ($2.37) to ($1.99). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for C4 Therapeutics.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Thursday, May 13th. The company reported ($0.49) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.14. The company had revenue of $7.43 million for the quarter.

CCCC has been the topic of a number of research analyst reports. Brookline Capital Management reiterated a “buy” rating on shares of C4 Therapeutics in a research note on Friday, June 25th. Zacks Investment Research raised shares of C4 Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, May 12th. Brookline Capital Acquisition started coverage on shares of C4 Therapeutics in a report on Thursday, June 24th. They set a “buy” rating and a $54.00 target price on the stock. BMO Capital Markets increased their target price on shares of C4 Therapeutics from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, June 22nd. Finally, HC Wainwright started coverage on shares of C4 Therapeutics in a report on Friday, June 4th. They set a “buy” rating and a $63.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $51.50.

NASDAQ CCCC traded down $0.37 during trading hours on Friday, reaching $39.79. 5,240 shares of the company traded hands, compared to its average volume of 502,858. C4 Therapeutics has a 12 month low of $22.40 and a 12 month high of $48.97. The company has a debt-to-equity ratio of 0.04, a current ratio of 8.55 and a quick ratio of 8.55. The stock has a 50 day simple moving average of $38.17.

In related news, Director Malcolm Salter sold 755 shares of the stock in a transaction dated Friday, June 18th. The shares were sold at an average price of $37.19, for a total value of $28,078.45. Following the sale, the director now owns 14,843 shares of the company’s stock, valued at approximately $552,011.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam Crystal sold 15,000 shares of the stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $37.98, for a total transaction of $569,700.00. Following the completion of the sale, the insider now directly owns 15,000 shares in the company, valued at approximately $569,700. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,265 shares of company stock worth $654,018.

Institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC acquired a new position in C4 Therapeutics during the 1st quarter valued at about $38,000. Pacer Advisors Inc. acquired a new position in C4 Therapeutics during the 1st quarter valued at about $41,000. E Fund Management Co. Ltd. acquired a new position in C4 Therapeutics during the 1st quarter valued at about $72,000. Citigroup Inc. acquired a new position in C4 Therapeutics during the 4th quarter valued at about $67,000. Finally, SG Americas Securities LLC acquired a new position in C4 Therapeutics during the 1st quarter valued at about $147,000. 58.11% of the stock is currently owned by hedge funds and other institutional investors.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc, a biopharmaceutical company, develops novel therapeutic candidates to target and destroy disease-causing proteins for the treatment of cancer, neurodegenerative conditions, and other diseases. Its lead product candidate is CFT7455, an orally bioavailable degrader that is in preclinical stage targeting IKZF1/3 for multiple myeloma and non-Hodgkin lymphomas, including peripheral T-cell lymphoma and mantle cell lymphoma.

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