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

C4 Therapeutics (NASDAQ:CCCC) issued its quarterly earnings results on Thursday. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03, FiscalAI reports. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 45.45%. The firm had revenue of $8.47 million for the quarter, compared to the consensus estimate of $8.52 million.

C4 Therapeutics Price Performance

Shares of NASDAQ:CCCC traded up $0.15 during mid-day trading on Friday, hitting $3.10. The company had a trading volume of 4,325,494 shares, compared to its average volume of 2,927,055. C4 Therapeutics has a one year low of $1.69 and a one year high of $5.17. The firm has a fifty day moving average price of $3.22 and a 200 day moving average price of $3.22. The company has a market capitalization of $381.39 million, a PE ratio of -4.31 and a beta of 3.16.

Analyst Ratings Changes

Several equities analysts recently issued reports on CCCC shares. JPMorgan Chase & Co. started coverage on shares of C4 Therapeutics in a report on Friday, October 9th. They issued an “overweight” rating and a $10.00 target price on the stock. Evercore lowered C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 2nd. Lake Street Capital began coverage on C4 Therapeutics in a research report on Wednesday, October 28th. They issued a “buy” rating and a $11.00 price objective for the company. Wall Street Zen downgraded C4 Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Thursday, October 15th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary TORPEDO platform to design targeted protein degraders, which are intended to direct specific proteins to the cell’s natural disposal system rather than simply blocking their activity.

C4 Therapeutics has concentrated its research and development efforts primarily on oncology, including programs aimed at genetically defined cancers and difficult-to-treat tumors.