C4 Therapeutics (NASDAQ:CCCC) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

C4 Therapeutics (NASDAQ:CCCC) posted its quarterly earnings results 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 company had revenue of $8.47 million during the quarter, compared to analyst estimates of $8.52 million.

C4 Therapeutics Trading Up 5.1%

CCCC stock traded up $0.15 during midday trading on Friday, hitting $3.10. The company’s stock had a trading volume of 4,325,494 shares, compared to its average volume of 2,927,055. The company has a market cap of $381.39 million, a PE ratio of -4.31 and a beta of 3.16. C4 Therapeutics has a 12 month low of $1.69 and a 12 month high of $5.17. The firm’s 50-day moving average is $3.22 and its 200-day moving average is $3.22.

Analyst Upgrades and Downgrades

Several brokerages have commented on CCCC. Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a report on Thursday, October 15th. Guggenheim decreased their price target on shares of C4 Therapeutics from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. began coverage on C4 Therapeutics in a research report on Friday, October 9th. They issued an “overweight” rating and a $10.00 price objective on the stock. Evercore lowered C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Lake Street Capital assumed coverage on C4 Therapeutics in a research report on Wednesday, October 28th. They set a “buy” rating and a $11.00 target price for the company. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.