C4 Therapeutics (NASDAQ:CCCC) Issues Quarterly Earnings Results

C4 Therapeutics (NASDAQ:CCCC) posted its quarterly earnings data on Thursday. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03, FiscalAI reports. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 45.45%. 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 CCCC traded up $0.15 during midday trading on Friday, reaching $3.10. The stock had a trading volume of 4,325,494 shares, compared to its average volume of 2,927,055. The firm has a market cap of $381.39 million, a PE ratio of -4.31 and a beta of 3.16. The firm has a 50 day simple moving average of $3.22 and a 200-day simple moving average of $3.22. C4 Therapeutics has a one year low of $1.69 and a one year high of $5.17.

Analyst Upgrades and Downgrades

CCCC has been the topic of a number of analyst reports. Lake Street Capital started coverage on shares of C4 Therapeutics in a research note on Wednesday, October 28th. They issued a “buy” rating and a $11.00 price target on the stock. Guggenheim started coverage on C4 Therapeutics in a research report on Friday. They issued a “buy” rating and a $6.00 price target 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. Evercore cut shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Thursday, October 15th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently 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.