C4 Therapeutics, Inc. (NASDAQ:CCCC) Short Interest Update

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totalling 6,650,000 shares, a decrease of 39.6% from the September 30th total of 11,010,000 shares. Based on an average trading volume of 988,500 shares, the days-to-cover ratio is presently 6.7 days.

C4 Therapeutics Price Performance

Shares of C4 Therapeutics stock traded down $0.06 during trading hours on Friday, hitting $5.89. 289,334 shares of the company’s stock traded hands, compared to its average volume of 2,203,990. The stock has a market capitalization of $405.27 million, a price-to-earnings ratio of -2.49 and a beta of 3.04. C4 Therapeutics has a 12-month low of $1.06 and a 12-month high of $11.88. The company has a fifty day simple moving average of $6.06 and a 200-day simple moving average of $5.87.

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

Institutional Investors Weigh In On C4 Therapeutics

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in C4 Therapeutics by 46.0% during the first quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock valued at $23,857,000 after purchasing an additional 920,627 shares during the period. Acadian Asset Management LLC increased its holdings in C4 Therapeutics by 415.8% in the 2nd quarter. Acadian Asset Management LLC now owns 113,436 shares of the company’s stock worth $524,000 after acquiring an additional 91,443 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in C4 Therapeutics in the 2nd quarter worth about $881,000. Hennion & Walsh Asset Management Inc. bought a new stake in C4 Therapeutics in the 2nd quarter valued at about $660,000. Finally, Entropy Technologies LP purchased a new stake in C4 Therapeutics during the first quarter valued at about $126,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets reissued an “outperform” rating and set a $20.00 price target 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. According to data from MarketBeat.com, C4 Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $10.50.

About C4 Therapeutics

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.