C4 Therapeutics, Inc. (CCCC) shares rallied 13.7% in the last trading session to close at $7.38. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 56.8% gain over the past four weeks.

The sudden soaring of the stock price can be attributed to the positive investor mindest regarding the progress of C4's clinical pipeline. The company is evaluating its most advanced product candidate, cemsidomide (CFT7455), an orally bioavailable MonoDAC degrader of protein targets called IKZF1 and IKZF3, in an ongoing early-stage study for multiple myeloma and non-Hodgkin lymphomas. C4 is also evaluating another clinical candidate, CFT1946, also currently in early-stage development, for the treatment of V600 mutant cancers.

This company is expected to post quarterly loss of $0.37 per share in its upcoming report, which represents a year-over-year change of +49.3%. Revenues are expected to be $6.88 million, up 158.7% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For C4 Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CCCC going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

C4 Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Praxis Precision Medicines, Inc. (PRAX), finished the last trading session 4.2% higher at $53.12. PRAX has returned 39.5% over the past month.

Praxis Precision Medicines' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.39. Compared to the company's year-ago EPS, this represents a change of +67.5%. Praxis Precision Medicines currently boasts a Zacks Rank of #3 (Hold).

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C4 Therapeutics, Inc. (CCCC) : Free Stock Analysis Report

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