C4 Therapeutics Reports Earnings Results, Falls Short of Expectations

C4 Therapeutics (NASDAQ:CCCC) revealed its quarterly earnings on Thursday, announcing an earnings per share (EPS) of ($0.49). This figure was below the expected consensus of ($0.44) by ($0.05), as reported by Zacks. The company demonstrated a negative net margin of 313.35% along with a troubling return on equity of -42.45%.

Stock Performance on Thursday

During trading on Thursday, shares of C4 Therapeutics experienced a slight increase, trading up by $0.02 to reach $2.67. Approximately 1,143,035 shares were exchanged, which is lower than the average trading volume of 1,827,129 shares. C4 Therapeutics' 50-day moving average stands at $3.57, while its 200-day moving average is $4.84. Over the past year, the stock has reached a low of $2.60 and a high of $11.88. The company holds a market capitalization of approximately $188.61 million and operates with a price-to-earnings (P/E) ratio of -1.57, along with a beta value of 2.95.

Analyst Ratings and Insights

Several brokerages have recently made recommendations regarding C4 Therapeutics. On February 14th, UBS Group upgraded the stock to a “hold” rating. Meanwhile, Stephens commenced coverage of C4 Therapeutics, giving it an “equal weight” rating, and set a price target of $4.00. On December 19th, Wells Fargo & Company lifted its rating from “equal weight” to “overweight,” raising their target price for the stock from $8.00 to $12.00. Currently, two equity research analysts suggest a hold rating, while three analysts propose a buy rating. Reports indicate that the consensus rating for C4 Therapeutics is a “Moderate Buy,” with an average target price of $12.50.

About C4 Therapeutics

C4 Therapeutics, Inc, is a biopharmaceutical company that is in the clinical stage of developing cutting-edge therapeutic candidates aimed at degrading harmful proteins linked to cancer, neurodegenerative disorders, and other diseases. Their leading product candidate is CFT7455, which is an orally bioavailable MonoDAC degrader of proteins. It is currently undergoing Phase 1/2 clinical trials to target IKZF1 and IKZF3 in the treatment of multiple myeloma and non-Hodgkin lymphomas, including peripheral T-cell lymphoma and mantle cell lymphoma.

C4, Therapeutics, Earnings