C4 Therapeutics Inc Down 12.75% To $1.30 After Earnings Beat

Wednesday, November 1, 2023 - C4 Therapeutics Inc (CCCC) reported upside earnings and revenues today.

Wall Street earnings per share (EPS) projections for C4 Therapeutics Inc were at a loss of $0.66 per share. The company beat those estimates with an EPS loss of $0.55 per share. The loss of $0.55 per share (which represents a -17% EPS surprise) led to the company's profits rising 15% compared to last year when the firm reported an EPS loss of $0.65 per share. The increase in C4 Therapeutics Inc's annual growth rate represents how the business is performing well amid recent economic conditions.

Revenues were upbeat at $11.1 million. That is an increase of 63.93% in revenues from the year-ago report and is 102.78% higher than consensus estimates set at $5.5 million.

The stock is down 12.75% to $1.30 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned C4 Therapeutics Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 34. Meanwhile, the average Wall Street analyst rated the stock a Buy.

C4 Therapeutics Inc is a bio-pharmaceutical company. The company is focused on harnessing the body's natural regulation of protein levels to develop novel therapeutic candidates to eliminate disease-causing proteins for the treatment of cancer, neurodegenerative conditions and other diseases.