C4 Therapeutics (NASDAQ:CCCC) Issues Earnings Results, Beats Expectations By $0.25 EPS

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

C4 Therapeutics Stock Performance

NASDAQ:CCCC traded up $0.01 during trading hours on Thursday, hitting $2.78. The stock had a trading volume of 4,394,993 shares, compared to its average volume of 1,685,858. The business’s 50 day moving average is $2.06 and its 200-day 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. C4 Therapeutics has a one year low of $1.09 and a one year high of $3.65.

Institutional Trading of C4 Therapeutics

Large investors have recently made changes to their positions in the company. RA Capital Management L.P. bought a new position in C4 Therapeutics during the fourth quarter worth about $15,280,000. Wasatch Advisors LP raised its position in shares of C4 Therapeutics by 10.4% during the second quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company’s stock worth $10,617,000 after purchasing an additional 700,253 shares during the period. Bain Capital Life Sciences Investors LLC lifted its holdings in shares of C4 Therapeutics by 545.0% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 7,171,910 shares of the company’s stock valued at $13,698,000 after purchasing an additional 6,060,000 shares in the last quarter. Vanguard Group Inc. grew its position in shares of C4 Therapeutics by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,191,557 shares of the company’s stock valued at $7,085,000 after purchasing an additional 173,535 shares during the period. Finally, Bank of America Corp DE increased its stake in C4 Therapeutics by 2.2% during the 3rd quarter. Bank of America Corp DE now owns 2,053,162 shares of the company’s stock worth $4,558,000 after purchasing an additional 45,158 shares in the last quarter. Institutional investors own 78.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. TD Cowen reaffirmed a “buy” rating on shares of C4 Therapeutics in a research note on Thursday. Barclays reaffirmed an “overweight” rating and issued a $7.00 target price on shares of C4 Therapeutics in a report on Thursday. Brookline Capital Acquisition lifted their price target on shares of C4 Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a report on Wednesday, January 21st. Six equities 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.20.

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.