C4 Therapeutics (NASDAQ:CCCC) Shares Up 7.9% - What's Next?

C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report)'s share price was up 7.9% during trading on Thursday . The company traded as high as $2.26 and last traded at $2.18. Approximately 2,228,111 shares traded hands during trading, an increase of 69% from the average daily volume of 1,317,143 shares. The stock had previously closed at $2.02.

C4 Therapeutics Trading Down 2.2%

The firm has a market capitalization of $161.19 million, a price-to-earnings ratio of -1.54 and a beta of 2.94. The stock's 50 day moving average price is $1.59 and its two-hundred day moving average price is $2.16.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.11. C4 Therapeutics had a negative net margin of 259.60% and a negative return on equity of 45.86%. The company had revenue of $7.20 million for the quarter, compared to analysts' expectations of $3.54 million. On average, sell-side analysts forecast that C4 Therapeutics, Inc. will post -1.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Soleus Capital Management L.P. grew its position in C4 Therapeutics by 5.7% in the fourth quarter. Soleus Capital Management L.P. now owns 6,978,942 shares of the company's stock valued at $25,124,000 after acquiring an additional 374,946 shares in the last quarter. Wasatch Advisors LP grew its position in C4 Therapeutics by 7.0% in the fourth quarter. Wasatch Advisors LP now owns 6,072,601 shares of the company's stock valued at $21,861,000 after acquiring an additional 395,233 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in C4 Therapeutics by 198.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company's stock valued at $5,580,000 after acquiring an additional 1,030,000 shares in the last quarter. Geode Capital Management LLC grew its position in C4 Therapeutics by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,381,086 shares of the company's stock valued at $4,973,000 after acquiring an additional 11,410 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its position in shares of C4 Therapeutics by 1.1% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,334,101 shares of the company's stock worth $4,803,000 after buying an additional 14,617 shares in the last quarter. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

C4 Therapeutics Company Profile

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.