C4 Therapeutics (NASDAQ:CCCC) Releases Earnings Results

C4 Therapeutics (NASDAQ:CCCC) posted its quarterly earnings results on Thursday. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.03, FiscalAI reports. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 45.45%. The business had revenue of $8.47 million for the quarter, compared to analysts’ expectations of $8.52 million.

C4 Therapeutics Stock Performance

Shares of NASDAQ CCCC traded up $0.15 during trading hours on Friday, reaching $3.10. 4,325,494 shares of the stock were exchanged, compared to its average volume of 2,927,055. The firm has a market capitalization of $381.39 million, a price-to-earnings ratio of -4.31 and a beta of 3.16. The stock’s fifty day simple moving average is $3.22 and its 200 day simple moving average is $3.22. C4 Therapeutics has a 52 week low of $1.69 and a 52 week high of $5.17.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Guggenheim dropped their price target on shares of C4 Therapeutics from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Friday. Lake Street Capital initiated coverage on shares of C4 Therapeutics in a research report on Wednesday, October 28th. They issued a “buy” rating and a $11.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Thursday, October 15th. JPMorgan Chase & Co. began coverage on shares of C4 Therapeutics in a research note on Friday, October 9th. They set an “overweight” rating and a $10.00 price objective on the stock. Finally, Evercore lowered shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary TORPEDO platform to design targeted protein degraders, which are intended to direct specific proteins to the cell’s natural disposal system rather than simply blocking their activity.

C4 Therapeutics has concentrated its research and development efforts primarily on oncology, including programs aimed at genetically defined cancers and difficult-to-treat tumors.