C4 Therapeutics (NASDAQ:CCCC) Issues Quarterly Earnings Results

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.03, Zacks reports. C4 Therapeutics had a negative net margin of 325.88% and a negative return on equity of 53.91%. The business had revenue of $11.20 million for the quarter, compared to the consensus estimate of $6.28 million.

C4 Therapeutics Stock Up 0.4%

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Shares of CCCC traded up $0.01 during trading on Thursday, reaching $2.38. 944,444 shares of the company traded hands, compared to its average volume of 1,585,938. C4 Therapeutics has a twelve month low of $1.09 and a twelve month high of $6.25. The stock has a market cap of $169.38 million, a PE ratio of -1.51 and a beta of 2.95. The stock has a 50-day simple moving average of $2.52 and a 200-day simple moving average of $2.07.

Institutional Investors Weigh In On C4 Therapeutics

A number of institutional investors have recently made changes to their positions in CCCC. AQR Capital Management LLC increased its position in shares of C4 Therapeutics by 957.6% during 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. Goldman Sachs Group Inc. grew its holdings in shares of C4 Therapeutics by 8.6% in the first quarter. Goldman Sachs Group Inc. now owns 622,720 shares of the company's stock valued at $996,000 after purchasing 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 grew its holdings in shares of 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 purchasing an additional 68,178 shares in the last quarter. Finally, Invesco Ltd. grew 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 valued at $222,000 after purchasing an additional 15,531 shares in the last quarter. 78.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

• C4 Therapeutics blasts off: what's next?

Several research analysts have recently weighed in on the company. Wall Street Zen cut C4 Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Guggenheim began coverage on C4 Therapeutics in a research note on Wednesday, September 3rd. They issued a "buy" rating and a $8.00 target price for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of C4 Therapeutics in a research report on Wednesday, October 8th. Zacks Research downgraded shares of C4 Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Barclays lifted their target price on shares of C4 Therapeutics from $8.00 to $10.00 and gave the stock an "overweight" rating in a research note on Monday, September 22nd. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, C4 Therapeutics presently has an average rating of "Hold" and an average price target of $8.50.

View Our Latest Stock Report on CCCC

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.

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