Short Interest in C4 Therapeutics, Inc. (NASDAQ:CCCC) Declines By 7.6%

C4 Therapeutics, Inc. (NASDAQ:CCCC) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 11,010,000 shares, a decline of 7.6% from the September 15th total of 11,920,000 shares. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is currently 9.0 days.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reiterated an “outperform” rating and issued a $20.00 price objective on shares of C4 Therapeutics in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, C4 Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $10.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CCCC. Headlands Technologies LLC acquired a new position in shares of C4 Therapeutics in the second quarter worth about $45,000. B. Riley Wealth Advisors Inc. bought a new position in C4 Therapeutics in the 2nd quarter worth approximately $51,000. Cornercap Investment Counsel Inc. bought a new position in shares of C4 Therapeutics in the second quarter worth $125,000. Entropy Technologies LP bought a new position in C4 Therapeutics in the 1st quarter valued at about $126,000. Finally, SG Americas Securities LLC acquired a new position in shares of C4 Therapeutics during the third quarter valued at approximately $142,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

C4 Therapeutics Stock Up 11.1 %

Shares of CCCC traded up $0.70 during mid-day trading on Wednesday, reaching $7.00. 1,583,530 shares of the company’s stock were exchanged, compared to its average volume of 2,266,708. The company has a 50-day simple moving average of $6.00 and a two-hundred day simple moving average of $5.93. The company has a market cap of $481.64 million, a price-to-earnings ratio of -2.95 and a beta of 3.04. C4 Therapeutics has a 52-week low of $1.06 and a 52-week high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.11. The company had revenue of $12.01 million during the quarter, compared to the consensus estimate of $6.88 million. C4 Therapeutics had a negative net margin of 367.17% and a negative return on equity of 44.60%. As a group, equities research analysts predict that C4 Therapeutics will post -1.57 EPS for the current fiscal year.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops novel therapeutic candidates to degrade disease-causing proteins for the treatment of cancer, neurodegenerative conditions, and other diseases. Its lead product candidate is CFT7455, an orally bioavailable MonoDAC degrader of protein that is in Phase 1/2 trial targeting IKZF1 and IKZF3 for multiple myeloma and non-Hodgkin lymphomas, including peripheral T-cell lymphoma and mantle cell lymphoma, currently under Phase 1/2 clinical trials.