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

C4 Therapeutics (NASDAQ:CCCCGet Free Report) posted its earnings results on Tuesday. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05, FiscalAI reports. C4 Therapeutics had a negative net margin of 297.76% and a negative return on equity of 50.68%. The company had revenue of $6.64 million during the quarter, compared to analysts’ expectations of $4.00 million.

C4 Therapeutics Stock Performance

Shares of NASDAQ CCCC traded up $0.06 during midday trading on Tuesday, reaching $3.67. 697,415 shares of the stock were exchanged, compared to its average volume of 2,700,618. The company has a 50 day simple moving average of $3.92 and a 200 day simple moving average of $3.15. C4 Therapeutics has a twelve month low of $1.69 and a twelve month high of $5.17. The stock has a market capitalization of $406.34 million, a P/E ratio of -3.10 and a beta of 2.91.

Hedge Funds Weigh In On C4 Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CCCC. AQR Capital Management LLC lifted its position in shares of 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 in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of C4 Therapeutics by 8.6% during the first quarter. Goldman Sachs Group Inc. now owns 622,720 shares of the company’s stock worth $996,000 after buying an additional 49,065 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of C4 Therapeutics in the first quarter valued at approximately $43,000. XTX Topco Ltd lifted its stake in shares of C4 Therapeutics by 170.0% during 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 during the period. Finally, Invesco Ltd. lifted its stake in shares of C4 Therapeutics by 11.1% during the second quarter. Invesco Ltd. now owns 155,017 shares of the company’s stock valued at $222,000 after buying an additional 15,531 shares during the period. 78.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, C4 Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Get Our Latest Stock Report on C4 Therapeutics

C4 Therapeutics Company Profile

(Get Free Report)

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.

See Also

Earnings History for C4 Therapeutics (NASDAQ:CCCC)

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