C4 Therapeutics Inc (NASDAQ:CCCC) finished Wednesday with a subtraction of -$0.07 to close at $1.81, a downside of -3.72 percent. An average of 620,320 shares of common stock have been traded in the last five days. There was a fall of -$0.4000 in the past week, and it reached a new high 7 times over the past 12 months. The last 20 days have seen an average of 512,040 shares traded, while the 50-day average volume stands at 425,842.
CCCC stock has decreased by -42.54% in the last month. The company shares reached their 1-month lowest point of $1.7850 on 09/27/23. With the stock rallying to its 52-week high on 01/13/23, shares of the company touched a low of $1.84 and a high of $10.42 in 52 weeks. It has reached a new high 9 times so far this year and lost -69.32% or -$4.0900 in price. In spite of this, the price is down -82.63% from the 52-week high.
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Valuation Metrics
C4 Therapeutics Inc (CCCC) stock’s beta is 2.20. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.55, the price-to-book (PB) ratio at 0.38.
Financial Health
The quick ratio of C4 Therapeutics Inc for the three months ended June 29 was 5.69, and the current ratio was 5.69, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.29 and a total debt to equity ratio of 0.36 for the quarter ending June 29. Its gross profit as reported stood at $160.63 million compared to revenue of $31.1 million.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$35.92 million in the quarter, while revenues of -$34.78 million were grew 23.69%. The analyst consensus anticipated C4 Therapeutics Inc’s latest quarter earnings to come in at -$0.69 per share, but it turned out to be -$0.73, a -5.80% surprise. For the quarter, EBITDA amounted to -$38.01 million. Shareholders own equity worth $49.19 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at C4 Therapeutics Inc (CCCC) price momentum. RSI 9-day as of the close on 27 September was 12.46%, suggesting the stock is oversold, with historical volatility in this time frame at 41.53%.
As of today, CCCC’s price is $1.9660 -18.10% or -$0.4000 from its 5-day moving average. CCCC is currently trading -41.04% lower than its 20-day SMA and -43.96% lower than its 100-day SMA. However, the stock’s current price level is -50.00% below the SMA50 and -76.88% below the SMA200.
The stochastic %K and %D were 4.33% and 7.65%, respectively, and the average true range (ATR) was 0.1526. With the 14-day stochastic at 4.00% and the average true range at 0.1580, the RSI (14) stands at 17.18%. The stock has reached -0.2033 on the 9-day MACD Oscillator while the 14-day reading was at -0.2876.
Analyst Ratings
Credit Suisse upgraded C4 Therapeutics Inc (NASDAQ: CCCC) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Underperform.
What is CCCC’s price target for the next 12 months?
Analysts predict a range of price targets between $3.00 and $84.00, with a median target of $15.00. Taking a look at these predictions, the average price target given by analysts for C4 Therapeutics Inc (CCCC) stock is $19.00.
