C4 Therapeutics (NASDAQ:CCCC) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

C4 Therapeutics (NASDAQ:CCCC) issued its earnings results on Tuesday. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.05, FiscalAI reports. C4 Therapeutics had a negative net margin of 297.76% and a negative return on equity of 53.23%. The company had revenue of $6.15 million for the quarter, compared to analysts’ expectations of $4.42 million.

C4 Therapeutics Trading Down 4.4%

NASDAQ CCCC traded down $0.16 on Thursday, hitting $3.52. The company’s stock had a trading volume of 166,996 shares, compared to its average volume of 2,476,550. The firm has a market cap of $387.50 million, a P/E ratio of -3.01 and a beta of 2.77. C4 Therapeutics has a 52-week low of $1.21 and a 52-week high of $3.95. The company’s 50-day simple moving average is $2.86 and its 200 day simple moving average is $2.47.

Institutional Trading of C4 Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCCC. Zacks Investment Management bought a new stake in C4 Therapeutics in the third quarter valued at $29,000. Virtu Financial LLC bought a new stake in shares of C4 Therapeutics during the 4th quarter valued at about $39,000. Acadian Asset Management LLC purchased a new position in shares of C4 Therapeutics during the first quarter valued at about $43,000. Caitong International Asset Management Co. Ltd bought a new position in C4 Therapeutics in the third quarter worth about $43,000. Finally, Engineers Gate Manager LP lifted its holdings in C4 Therapeutics by 49.9% in the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock worth $47,000 after buying an additional 8,130 shares during the period. Hedge funds and other institutional investors own 78.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Monday, April 20th. boosted their price objective on C4 Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Barclays increased their price objective on C4 Therapeutics from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, TD Cowen reaffirmed a “buy” rating on shares of C4 Therapeutics in a research note on Thursday, February 26th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

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.