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

Key Points

• C4 Therapeutics beat quarterly estimates, reporting a loss of $0.18 per share versus the expected $0.23 loss. Revenue reached $6.64 million, well above the $4.00 million consensus estimate.
• The company remains unprofitable, with a negative net margin of 297.76% and negative return on equity of 50.68%.
• CCCC shares opened at $3.71, while analysts maintain a “Moderate Buy” consensus rating and an average price target of $7.75; institutional investors and hedge funds own 78.81% of the stock.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.18) EPS for the quarter, beating the consensus estimate 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 business had revenue of $6.64 million during the quarter, compared to the consensus estimate of $4.00 million.

C4 Therapeutics Price Performance

NASDAQ CCCC opened at $3.71 on Tuesday. C4 Therapeutics has a 1 year low of $1.69 and a 1 year high of $5.17. The company has a market cap of $410.10 million, a price-to-earnings ratio of -3.12 and a beta of 2.91. The stock's fifty day moving average price is $3.92 and its 200 day moving average price is $3.15.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zacks Investment Management purchased a new stake in C4 Therapeutics in the 3rd quarter worth approximately $29,000. Virtu Financial LLC acquired a new position in C4 Therapeutics during the fourth quarter worth $39,000. Acadian Asset Management LLC acquired a new stake in C4 Therapeutics during the first quarter worth about $43,000. Caitong International Asset Management Co. Ltd acquired a new stake in C4 Therapeutics during the third quarter worth $43,000. Finally, Engineers Gate Manager LP raised its holdings in C4 Therapeutics by 49.9% in the 4th quarter. Engineers Gate Manager LP now owns 24,416 shares of the company's stock valued at $47,000 after buying an additional 8,130 shares during the period. 78.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of C4 Therapeutics in a report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $7.75.

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.

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