In the last trading session, 1.28 million shares of the C4 Therapeutics Inc (NASDAQ:CCCC) were traded, and its beta was 3.18. Most recently the company’s share price was $7.68, and it changed around -$0.42 or -5.19% from the last close, which brings the market valuation of the company to $526.85M. CCCC currently trades at a discount to its 52-week high of $11.88, offering almost -54.69% off that amount. The share price’s 52-week low was $1.06, which indicates that the current value has risen by an impressive 86.2% since then. We note from C4 Therapeutics Inc’s average daily trading volume that its 10-day average is 1.56 million shares, with the 3-month average coming to 4.27 million.
C4 Therapeutics Inc (NASDAQ:CCCC) trade information
Instantly CCCC has showed a red trend with a performance of -5.19% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 35.93% year-to-date, but still down -6.46% over the last five days. On the other hand, C4 Therapeutics Inc (NASDAQ:CCCC) is -30.12% down in the 30-day period. We can see from the shorts that 5.29 million shares have been sold at a short interest cover period of 1.43 day(s).
The consensus price target as assigned by Wall Street analysts is $11.33, which translates to bulls needing to increase their stock price by 32.22% from its current value. Analyst projections state that CCCC is forecast to be at a low of $9 and a high of $15.
C4 Therapeutics Inc (CCCC) estimates and forecasts
C4 Therapeutics Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 312.90 percent over the past six months and at a 30.34% annual growth rate that is well above the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 50.70% in revenue this quarter, and will report an increase of 31.50% in the next quarter. The year-over-year growth rate is expected to be 29.30%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $8.1 million in revenue for the current quarter. 6 analysts expect C4 Therapeutics Inc to make $4 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $5.15 million and $2.66 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 57.30%. Forecasts for the next quarter put sales growth at 50.20%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -36.05%. C4 Therapeutics Inc earnings are expected to increase by 30.76% in 2024, but the outlook is positive 22.30% per year for the next five years.
CCCC Dividends
C4 Therapeutics Inc’s next quarterly earnings report is expected to be released around May 02 and May 06.
C4 Therapeutics Inc (NASDAQ:CCCC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 14.22% of C4 Therapeutics Inc shares, and 68.09% of them are in the hands of institutional investors. The stock currently has a share float of 79.38%. C4 Therapeutics Inc stock is held by 123 institutions, with Wasatch Advisors LP being the largest institutional investor. By Jun 29, 2023, it held 14.64% of the shares, which is about 7.2 million shares worth $19.8 million.
Price (T.Rowe) Associates Inc, with 5.75% or 2.83 million shares worth $7.78 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Price (T.Rowe) New Horizons Fund and Wasatch Small Cap Growth Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 1.76 million shares worth $4.85 million, making up 3.59% of all outstanding shares. On the other hand, Wasatch Small Cap Growth Fund held roughly 1.73 million shares worth around $4.75 million, which represents about 3.51% of the total shares outstanding.
