FY2029 EPS Estimate for C4 Therapeutics Cut by Analyst

C4 Therapeutics, Inc. (NASDAQ:CCCC) – Equities research analysts at Brookline Capital Markets reduced their FY2029 earnings per share (EPS) estimates for shares of C4 Therapeutics in a research report issued on Thursday, November 5th. Brookline Capital Markets analyst L. Cann now forecasts that the company will post earnings of $5.68 per share for the year, down from their previous forecast of $5.90. The consensus estimate for C4 Therapeutics’ current full-year earnings is ($0.81) per share. Brookline Capital Markets also issued estimates for C4 Therapeutics’ FY2030 earnings at $21.65 EPS.

C4 Therapeutics (NASDAQ:CCCC) last issued its earnings results on Thursday, November 5th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The firm had revenue of $8.47 million for the quarter, compared to the consensus estimate of $8.52 million. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. started coverage on C4 Therapeutics in a report on Friday, October 9th. They issued an “overweight” rating and a $10.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Thursday, October 15th. Evercore lowered shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 2nd. Wall Street Zen lowered shares of C4 Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Lake Street Capital began coverage on shares of C4 Therapeutics in a research note on Wednesday, October 28th. They issued a “buy” rating and a $11.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

C4 Therapeutics Trading Up 1.6%

Shares of CCCC stock opened at $3.15 on Monday. The stock has a 50 day moving average of $3.21 and a 200 day moving average of $3.23. The stock has a market cap of $387.54 million, a P/E ratio of -4.37 and a beta of 3.16. C4 Therapeutics has a twelve month low of $1.69 and a twelve month high of $5.17.

Institutional Investors Weigh In On C4 Therapeutics

A number of institutional investors have recently modified their holdings of the business. Candriam S.C.A. increased its stake in shares of C4 Therapeutics by 53.6% in the 3rd quarter. Candriam S.C.A. now owns 2,760,346 shares of the company’s stock valued at $9,226,000 after purchasing an additional 963,409 shares in the last quarter. Renaissance Technologies LLC raised its holdings in C4 Therapeutics by 53.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company’s stock worth $6,475,000 after purchasing an additional 859,235 shares during the period. Velan Capital Investment Management LP purchased a new position in C4 Therapeutics during the second quarter worth approximately $2,662,000. Wasatch Advisors LP boosted its position in C4 Therapeutics by 18.9% during the second quarter. Wasatch Advisors LP now owns 3,522,644 shares of the company’s stock worth $16,451,000 after purchasing an additional 560,883 shares in the last quarter. Finally, Stempoint Capital LP purchased a new position in C4 Therapeutics during the first quarter worth approximately $1,192,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

About C4 Therapeutics

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.