C4 Therapeutics (NASDAQ:CCCC) Posts Earnings Results, Beats Expectations By $0.05 EPS

C4 Therapeutics (NASDAQ:CCCC) posted its earnings results on Tuesday. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.05, FiscalAI reports. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 47.15%. The firm had revenue of $6.64 million during the quarter, compared to analysts’ expectations of $4.00 million.

C4 Therapeutics Stock Up 0.8%

CCCC stock opened at $3.90 on Thursday. The stock has a market capitalization of $431.22 million, a P/E ratio of -3.90 and a beta of 2.91. The firm has a 50-day simple moving average of $3.90 and a 200-day simple moving average of $3.17. C4 Therapeutics has a 52 week low of $1.69 and a 52 week high of $5.17.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. RA Capital Management L.P. acquired a new stake in C4 Therapeutics during the 4th quarter worth $15,280,000. Bain Capital Life Sciences Investors LLC grew its stake in C4 Therapeutics by 545.0% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 7,171,910 shares of the company’s stock valued at $13,698,000 after acquiring an additional 6,060,000 shares in the last quarter. Wells Fargo & Company MN grew its stake in C4 Therapeutics by 4,236.9% during the 4th quarter. Wells Fargo & Company MN now owns 809,260 shares of the company’s stock valued at $1,546,000 after acquiring an additional 790,600 shares in the last quarter. Wasatch Advisors LP raised its holdings in C4 Therapeutics by 10.4% in the 2nd quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company’s stock valued at $10,617,000 after acquiring an additional 700,253 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in C4 Therapeutics by 329.7% in the 4th quarter. Jane Street Group LLC now owns 874,794 shares of the company’s stock valued at $1,671,000 after acquiring an additional 671,226 shares during the last quarter. 78.81% of the stock is owned by hedge funds and other institutional investors.

C4 Therapeutics Company Profile

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.