C4 Therapeutics (NASDAQ:CCCC) Posts Quarterly Earnings Results, Beats Estimates By $0.25 EPS

C4 Therapeutics (NASDAQ:CCCC) posted its earnings results on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.25, FiscalAI reports. C4 Therapeutics had a negative net margin of 395.51% and a negative return on equity of 64.40%. The firm had revenue of $11.02 million during the quarter, compared to analysts’ expectations of $4.48 million.

C4 Therapeutics Trading Up 0.4%

CCCC stock traded up $0.01 during midday trading on Thursday, reaching $2.78. The stock had a trading volume of 4,395,449 shares, compared to its average volume of 1,685,971. C4 Therapeutics has a 52-week low of $1.09 and a 52-week high of $3.65. The company’s fifty day simple moving average is $2.06 and its 200 day simple moving average is $2.35. The company has a market cap of $269.41 million, a price-to-earnings ratio of -1.66 and a beta of 2.96.

Hedge Funds Weigh In On C4 Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Zacks Investment Management acquired a new stake in shares of C4 Therapeutics during the 3rd quarter worth approximately $29,000. Virtu Financial LLC purchased a new position in C4 Therapeutics in the fourth quarter worth approximately $39,000. Acadian Asset Management LLC acquired a new stake in C4 Therapeutics during the first quarter worth $43,000. Caitong International Asset Management Co. Ltd acquired a new stake in C4 Therapeutics during the third quarter worth $43,000. Finally, Engineers Gate Manager LP raised its position in C4 Therapeutics by 49.9% in the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock valued at $47,000 after purchasing an additional 8,130 shares during the period. 78.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of C4 Therapeutics in a report on Thursday. TD Cowen restated a “buy” rating on shares of C4 Therapeutics in a research note on Thursday. Brookline Capital Acquisition increased their price target on C4 Therapeutics from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Wednesday, January 21st. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.20.

About C4 Therapeutics

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.