C4 Therapeutics Inc (NASDAQ: CCCC) stock surged 17.31% on the July 5 trading session. It opened trading at $3.53,, dipped to $3.14, hit a high of $3.62 and closed trading at $3.32 after losing $.049 of its trading prices.
In Wednesday’s trading session, CCCC stock reflected a majority of sellers in the market, but it is essential to note that C4 Therapeutics Inc (NASDAQ: CCCC) stock prices surged more than 20% in a week.
As per technical indicators and analysts’ ratings, the ongoing movement of CCCC stock might be a good opportunity for investors. The annual price target of the company’s stock is $20.27, which is 510.62% higher than the current trading price.
In 52 weeks, CCCC stock’s highest trading price was $13.24, and its lowest was $2.60. The market capitalization of C4 Therapeutics Inc (NASDAQ: CCCC) is $162.892 million, and its average trading volume is 4.02 million.
TradingView shows that 40.062 million CCCC shares are free-floating, and the remaining 9 Million are closely held by the company’s financial backers or the board of directors. Its revenue=to-profit conversion constitutes 76% of gross profit, -392% of Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), -417% of Earnings before interest and taxes (EBIT), and -412% of net income.
C4 Therapeutics Inc (NASDAQ: CCCC) Earnings & Revenue
In Q1 2023, C4 Therapeutics Inc (NASDAQ: CCCC) reported 31.19% less revenue than the estimated figures. The company was expected to report $5.46 million in revenue, but it reported $3.76 million instead.
In the last two quarters, the company’s revenue has reflected a significant decline. It reported 20.07% less revenue in Q3 and 71.13% less revenue in Q4 2022. Deviating from this steep decline, analysts predict that the company might report $5.39 million in Q2 and $5.98 million in Q3 of 2023.
CCCC earnings per share (EPS) reflected an upper movement of 5.01% in Q1, but EPS also suffered in Q4 2022. The majority of the company’s income is generated from protein degradation science, and it only leads its operations in the United States.
From the reported revenue of Q1 2023, the company generated a gross profit of $1.70 million, -$36.23 Million operating income, -$34.78 Million pre-tax income, and -$34.78 Million net income.
C4 Therapeutics Inc has revealed that the U.S Food and Drug Administration (FDA) has approved the investigational new drug (IND) application for CFT8919, an orally bioavailable BiDAC degrader designed to be potent and selective against EGFR L8589R for non-small-cell-lung cancer (NSCLC) patients.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/06/reflecting-a-majority-of-sellers-cccc-stock-surged-17-intraday/