C4 Therapeutics, Inc. (CCCC) Reports Q2 Loss, Tops Revenue Estimates

Company Performance - C4 Therapeutics reported a quarterly loss of $0.26 per share, better than the Zacks Consensus Estimate of a loss of $0.37, and improved from a loss of $0.73 per share a year ago, representing an earnings surprise of 29.73% [1] - The company posted revenues of $12.01 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 74.51%, compared to revenues of $2.66 million in the same quarter last year [2] - Over the last four quarters, C4 Therapeutics has exceeded consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - C4 Therapeutics shares have increased approximately 18.6% since the beginning of the year, outperforming the S&P 500's gain of 15.8% [3] - The current Zacks Rank for C4 Therapeutics is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.37 on revenues of $9.4 million, and for the current fiscal year, it is -$1.56 on revenues of $26.48 million [7] - The outlook for the Medical - Biomedical and Genetics industry, where C4 Therapeutics operates, is currently in the top 35% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8]