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

C4 Therapeutics (NASDAQ:CCCC) released its quarterly earnings results on Thursday. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05), Zacks reports. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%.

C4 Therapeutics Price Performance

Shares of C4 Therapeutics stock traded up $0.02 during midday trading on Thursday, hitting $2.67. 1,143,035 shares of the company were exchanged, compared to its average volume of 1,827,129. The firm has a market cap of $188.61 million, a P/E ratio of -1.57 and a beta of 2.95. The firm has a 50 day simple moving average of $3.57 and a 200-day simple moving average of $4.84. C4 Therapeutics has a 52 week low of $2.60 and a 52 week high of $11.88.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group upgraded C4 Therapeutics to a “hold” rating in a research note on Friday, February 14th. Stephens initiated coverage on C4 Therapeutics in a research note on Monday, November 18th. They issued an “equal weight” rating and a $4.00 price target for the company. Finally, Wells Fargo & Company raised shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $12.00 in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, C4 Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

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.