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

C4 Therapeutics (NASDAQ:CCCC) released its quarterly earnings data on Tuesday. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05, FiscalAI reports. The business had revenue of $6.64 million during the quarter, compared to analysts’ expectations of $4.00 million. C4 Therapeutics had a negative net margin of 297.76% and a negative return on equity of 50.68%.

C4 Therapeutics Trading Up 6.9%

Shares of NASDAQ CCCC opened at $3.87 on Wednesday. The company has a fifty day moving average price of $3.91 and a 200 day moving average price of $3.16. The firm has a market cap of $427.89 million, a PE ratio of -3.25 and a beta of 2.91. C4 Therapeutics has a 1-year low of $1.69 and a 1-year high of $5.17.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.75.

Institutional Trading of C4 Therapeutics

A number of institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of C4 Therapeutics during the fourth quarter worth about $39,000. Invesco Ltd. raised its position in C4 Therapeutics by 39.9% in the 4th quarter. Invesco Ltd. now owns 268,350 shares of the company’s stock valued at $513,000 after buying an additional 76,530 shares during the last quarter. Quadrature Capital Ltd bought a new stake in C4 Therapeutics in the 4th quarter valued at approximately $254,000. Man Group plc lifted its stake in C4 Therapeutics by 72.9% in the 4th quarter. Man Group plc now owns 156,098 shares of the company’s stock valued at $298,000 after acquiring an additional 65,820 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its position in 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. 78.81% of the stock is currently owned by institutional investors.

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.