C4 Therapeutics (NASDAQ:CCCC) Releases Earnings Results, Beats Estimates By $0.05 EPS

C4 Therapeutics (NASDAQ:CCCC) issued its quarterly earnings data on Tuesday. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.05, FiscalAI reports. The firm had revenue of $6.64 million during the quarter, compared to analysts’ expectations of $4.00 million. C4 Therapeutics had a negative return on equity of 50.68% and a negative net margin of 297.76%.

C4 Therapeutics Price Performance

CCCC opened at $3.71 on Tuesday. The business has a 50 day moving average price of $3.92 and a two-hundred day moving average price of $3.15. C4 Therapeutics has a 1-year low of $1.69 and a 1-year high of $5.17. The company has a market capitalization of $410.10 million, a price-to-earnings ratio of -3.12 and a beta of 2.91.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Friday, July 17th. Five 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Hedge Funds Weigh In On C4 Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Zacks Investment Management acquired a new stake in shares of C4 Therapeutics in the third quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of C4 Therapeutics during the 3rd quarter worth about $43,000. Virtu Financial LLC bought a new stake in shares of C4 Therapeutics in the fourth quarter valued at about $39,000. Engineers Gate Manager LP lifted its stake 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 valued at $47,000 after buying an additional 8,130 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in C4 Therapeutics during the first quarter worth about $43,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

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.