C4 Therapeutics (NASDAQ:CCCC) Releases Quarterly Earnings Results

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

C4 Therapeutics Trading Up 5.1%

Shares of C4 Therapeutics stock traded up $0.15 during trading on Friday, hitting $3.10. 4,325,494 shares of the stock traded hands, compared to its average volume of 2,927,055. The stock’s fifty day simple moving average is $3.22 and its 200 day simple moving average is $3.22. The firm has a market cap of $381.39 million, a P/E ratio of -4.31 and a beta of 3.16. C4 Therapeutics has a 52-week low of $1.69 and a 52-week high of $5.17.

Wall Street Analysts Forecast Growth

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

C4 Therapeutics Company Profile

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.