C4 Therapeutics Inc. (NASDAQ: CCCC) stock fell -3.87% on Thursday to $3.11 against a previous-day closing price of $3.23. With 0.52 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.54 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $3.3130 whereas the lowest price it dropped to was $3.0200. The 52-week range on CCCC shows that it touched its highest point at $13.23 and its lowest point at $2.85 during that stretch. It currently has a 1-year price target of $21.25.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CCCC was down-trending over the past week, with a drop of -2.36%, but this was up by 1.80% over a month. Three-month performance dropped to -41.74% while six-month performance fell -66.90%. The stock lost -51.64% in the past year, while it has lost -47.37% so far this year. A look at the trailing 12-month EPS for CCCC yields -2.68 with Next year EPS estimates of -2.95. For the next quarter, that number is -0.69. This implies an EPS growth rate of -44.00% for this year and -1.70% for next year.
Float and Shares Shorts:
At present, 49.03 million CCCC shares are outstanding with a float of 43.45 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.88 million, which was 5.88% higher than short shares on Mar 30, 2023. In addition to Mr. Andrew J. Hirsch as the firm’s CEO, Pres & Director, Dr. Kenneth C. Anderson M.D., Ph.D. serves as its Co-Founder, Independent Director & Member of Scientific Advisory Board.
Through their ownership of 81.19% of CCCC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 39.60% of CCCC, in contrast to 30.56% held by mutual funds. Shares owned by individuals account for 17.84%. As the largest shareholder in CCCC with 13.01% of the stake, ArrowMark Colorado Holdings LLC holds 6,380,880 shares worth 6,380,880. A second-largest stockholder of CCCC, Wasatch Advisors, Inc., holds 5,716,021 shares, controlling over 11.65% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in CCCC, holding 3,054,408 shares or 6.23% stake. With a 4.05% stake in CCCC, the Vanguard Explorer Fund is the largest stakeholder. A total of 1,987,056 shares are owned by the mutual fund manager. The T Rowe Price New Horizons Fund, which owns about 3.60% of CCCC stock, is the second-largest Mutual Fund holder. It holds 1,765,216 shares valued at 5.33 million. Wasatch Small Cap Growth Fund holds 3.26% of the stake in CCCC, owning 1,598,658 shares worth 4.83 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CCCC reported revenue of $13.83M and operating income of -$27.38M. The EBITDA in the recently reported quarter was -$26.44M and diluted EPS was -$0.56.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CCCC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CCCC analysts setting a high price target of $84.00 and a low target of $3.00, the average target price over the next 12 months is $21.25. Based on these targets, CCCC could surge 2600.96% to reach the target high and fall by -3.54% to reach the target low. Reaching the average price target will result in a growth of 583.28% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CCCC stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 11,252 shares were bought while 0 shares were sold. The number of buy transactions has increased to 31 while that of sell transactions has risen to 14 over the past year. The total number of shares bought during that period was 259,275 while 22,333 shares were sold.