FY2029 EPS Forecast for C4 Therapeutics Lowered by Analyst

C4 Therapeutics, Inc. (NASDAQ:CCCC) – Brookline Capital Markets cut their FY2029 earnings per share (EPS) estimates for C4 Therapeutics in a research note issued to investors on Tuesday, August 11th. Brookline Capital Markets analyst L. Cann now forecasts that the company will post earnings of $5.90 per share for the year, down from their previous estimate of $6.14. The consensus estimate for C4 Therapeutics’ current full-year earnings is ($0.87) per share. Brookline Capital Markets also issued estimates for C4 Therapeutics’ FY2030 earnings at $22.46 EPS.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, C4 Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $7.75.

C4 Therapeutics Stock Up 6.9%

NASDAQ:CCCC opened at $3.87 on Wednesday. The company has a fifty day moving average of $3.91 and a 200-day moving average of $3.16. The firm has a market capitalization of $427.91 million, a P/E ratio of -3.25 and a beta of 2.91. C4 Therapeutics has a twelve month low of $1.69 and a twelve month high of $5.17.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. The firm had revenue of $6.64 million for the quarter, compared to analysts’ expectations of $4.00 million. C4 Therapeutics had a negative return on equity of 50.68% and a negative net margin of 297.76%.

Institutional Investors Weigh In On C4 Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP raised its stake in shares of C4 Therapeutics by 49.9% during the 4th quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock worth $47,000 after purchasing an additional 8,130 shares during the period. SummitTX Capital L.P. bought a new position in C4 Therapeutics during the first quarter valued at about $28,000. CTC Alternative Strategies Ltd. purchased a new stake in C4 Therapeutics during the first quarter worth about $28,000. Man Group plc raised its position in C4 Therapeutics by 15.0% in the third quarter. Man Group plc now owns 90,278 shares of the company’s stock worth $200,000 after acquiring an additional 11,791 shares during the period. Finally, Zacks Investment Management bought a new stake in C4 Therapeutics in the third quarter worth about $29,000. 78.81% of the stock is owned by hedge funds and other institutional investors.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.