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

C4 Therapeutics (NASDAQ:CCCC) released its earnings results on Thursday. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.03, Zacks reports. C4 Therapeutics had a negative return on equity of 61.05% and a negative net margin of 395.51%.The business had revenue of $11.23 million for the quarter, compared to the consensus estimate of $6.28 million.

C4 Therapeutics Price Performance

Shares of NASDAQ CCCC opened at $2.34 on Friday. The firm has a market cap of $166.54 million, a price-to-earnings ratio of -1.40 and a beta of 2.95. The stock’s fifty day moving average price is $2.52 and its two-hundred day moving average price is $2.07. C4 Therapeutics has a one year low of $1.09 and a one year high of $6.20.

Institutional Investors Weigh In On C4 Therapeutics

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in shares of C4 Therapeutics during the 1st quarter worth approximately $43,000. Tower Research Capital LLC TRC boosted its stake in C4 Therapeutics by 458.0% in the second quarter. Tower Research Capital LLC TRC now owns 40,592 shares of the company’s stock valued at $58,000 after buying an additional 33,317 shares in the last quarter. XTX Topco Ltd boosted its stake in C4 Therapeutics by 170.0% in the second quarter. XTX Topco Ltd now owns 108,278 shares of the company’s stock valued at $155,000 after buying an additional 68,178 shares in the last quarter. AQR Capital Management LLC grew its position in C4 Therapeutics by 957.6% in the first quarter. AQR Capital Management LLC now owns 140,532 shares of the company’s stock valued at $225,000 after acquiring an additional 127,244 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of C4 Therapeutics by 11.1% in the second quarter. Invesco Ltd. now owns 155,017 shares of the company’s stock worth $222,000 after acquiring an additional 15,531 shares during the last quarter. 78.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on CCCC shares. Wall Street Zen lowered C4 Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Stephens restated an “overweight” rating and set a $6.00 target price on shares of C4 Therapeutics in a report on Monday, September 22nd. Zacks Research lowered shares of C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 22nd. Wells Fargo & Company lifted their price objective on shares of C4 Therapeutics from $5.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, September 23rd. Finally, Barclays boosted their price target on C4 Therapeutics from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.50.

About C4 Therapeutics

C4 Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops novel therapeutic candidates to degrade disease-causing proteins for the treatment of cancer, neurodegenerative conditions, and other diseases. Its lead product candidate is CFT7455, an orally bioavailable MonoDAC degrader of protein that is in Phase 1/2 trial targeting IKZF1 and IKZF3 for multiple myeloma and non-Hodgkin lymphomas, including peripheral T-cell lymphoma and mantle cell lymphoma, currently under Phase 1/2 clinical trials.