FY2029 EPS Estimate for C4 Therapeutics Cut by Analyst

C4 Therapeutics, Inc. (NASDAQ:CCCC) – Analysts at Brookline Capital Markets lowered their FY2029 EPS estimates for C4 Therapeutics in a note issued to investors on Thursday, November 5th. Brookline Capital Markets analyst L. Cann now anticipates that the company will post earnings per share of $5.68 for the year, down from their prior estimate of $5.90. The consensus estimate for C4 Therapeutics’ current full-year earnings is ($0.73) per share. Brookline Capital Markets also issued estimates for C4 Therapeutics’ FY2030 earnings at $21.65 EPS.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The business had revenue of $8.47 million during the quarter, compared to analyst estimates of $8.52 million. C4 Therapeutics had a negative net margin of 282.22% and a negative return on equity of 37.71%.

Several other equities research analysts also recently weighed in on CCCC. JPMorgan Chase & Co. initiated coverage on shares of C4 Therapeutics in a research report on Friday, October 9th. They issued an “overweight” rating and a $10.00 target price for the company. Wall Street Zen cut shares of C4 Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Thursday, October 15th. Lake Street Capital initiated coverage on C4 Therapeutics in a research note on Wednesday, October 28th. They issued a “buy” rating and a $11.00 price target for the company. Finally, Guggenheim began coverage on C4 Therapeutics in a research note on Friday, November 6th. They issued a “buy” rating and a $6.00 price target for the company. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

C4 Therapeutics Price Performance

NASDAQ CCCC opened at $3.00 on Monday. C4 Therapeutics has a 12 month low of $1.69 and a 12 month high of $5.17. The company has a market capitalization of $393.96 million, a price-to-earnings ratio of -4.17 and a beta of 3.16. The company’s fifty day moving average price is $3.19 and its two-hundred day moving average price is $3.23.

Hedge Funds Weigh In On C4 Therapeutics

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its stake in C4 Therapeutics by 170.5% during the third quarter. Russell Investments Group Ltd. now owns 21,924 shares of the company’s stock valued at $73,000 after purchasing an additional 13,819 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of C4 Therapeutics in the 3rd quarter worth about $34,000. Allspring Global Investments Holdings LLC bought a new position in shares of C4 Therapeutics in the 3rd quarter worth about $239,000. Candriam S.C.A. boosted its holdings in shares of C4 Therapeutics by 53.6% in the 3rd quarter. Candriam S.C.A. now owns 2,760,346 shares of the company’s stock valued at $9,226,000 after buying an additional 963,409 shares during the period. Finally, Alps Advisors Inc. boosted its holdings in shares of C4 Therapeutics by 44.2% in the 3rd quarter. Alps Advisors Inc. now owns 161,828 shares of the company’s stock valued at $539,000 after buying an additional 49,614 shares during the period. 78.81% of the stock is currently owned by institutional investors.

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.