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

C4 Therapeutics (NASDAQ:CCCC) posted its quarterly earnings data on Thursday. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.25, FiscalAI reports. C4 Therapeutics had a negative return on equity of 60.16% and a negative net margin of 292.08%.The company had revenue of $11.02 million during the quarter, compared to analysts’ expectations of $4.48 million.

C4 Therapeutics Stock Down 2.9%

CCCC stock traded down $0.08 during midday trading on Friday, hitting $2.70. The company’s stock had a trading volume of 3,465,874 shares, compared to its average volume of 1,699,522. C4 Therapeutics has a 12 month low of $1.09 and a 12 month high of $3.65. The company has a 50 day moving average of $2.09 and a two-hundred day moving average of $2.36. The firm has a market capitalization of $261.67 million, a price-to-earnings ratio of -1.99 and a beta of 2.96.

Hedge Funds Weigh In On C4 Therapeutics

Several hedge funds have recently modified their holdings of CCCC. Zacks Investment Management purchased a new position in C4 Therapeutics during the third quarter valued at $29,000. Virtu Financial LLC bought a new position in shares of C4 Therapeutics during the 4th quarter valued at about $39,000. Acadian Asset Management LLC bought a new position in shares of C4 Therapeutics during the 1st quarter valued at about $43,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of C4 Therapeutics during the third quarter valued at about $43,000. Finally, Engineers Gate Manager LP increased its holdings in shares of C4 Therapeutics by 49.9% in the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock worth $47,000 after purchasing an additional 8,130 shares during the last quarter. Hedge funds and other institutional investors own 78.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CCCC shares. Wall Street Zen upgraded C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Wednesday, January 21st. Barclays increased their price target on shares of C4 Therapeutics from $5.00 to $7.00 and gave the stock an “overweight” rating in a research report on Thursday. Brookline Capital Acquisition lifted their price target on shares of C4 Therapeutics from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Finally, TD Cowen restated a “buy” rating on shares of C4 Therapeutics in a research note on Thursday. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.