C4 Therapeutics, Inc. (NASDAQ:CCCC) Sees Significant Growth in Short Interest

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 8,870,000 shares, an increase of 11.0% from the November 30th total of 7,990,000 shares. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is presently 7.3 days.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Stephens initiated coverage on C4 Therapeutics in a research report on Monday, November 18th. They issued an “equal weight” rating and a $4.00 target price on the stock. Wells Fargo & Company upgraded C4 Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $8.00 to $12.00 in a research note on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, C4 Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $10.67.

Institutional Investors Weigh In On C4 Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of C4 Therapeutics by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,369,676 shares of the company’s stock valued at $7,809,000 after purchasing an additional 7,460 shares during the period. Point72 DIFC Ltd acquired a new position in C4 Therapeutics in the 3rd quarter valued at about $51,000. Headlands Technologies LLC bought a new position in C4 Therapeutics in the 2nd quarter valued at about $45,000. Cynosure Group LLC acquired a new stake in C4 Therapeutics during the third quarter worth approximately $57,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of C4 Therapeutics during the second quarter worth approximately $51,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

C4 Therapeutics Stock Down 1.1 %

Shares of CCCC stock traded down $0.04 on Wednesday, reaching $3.60. The stock had a trading volume of 2,230,458 shares, compared to its average volume of 2,084,740. C4 Therapeutics has a 12 month low of $3.43 and a 12 month high of $11.88. The firm has a market capitalization of $254.12 million, a price-to-earnings ratio of -2.12 and a beta of 2.92. The firm’s 50-day moving average is $4.69 and its two-hundred day moving average is $5.40.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.05. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. The firm had revenue of $15.36 million for the quarter, compared to analyst estimates of $5.95 million. On average, sell-side analysts forecast that C4 Therapeutics will post -1.52 earnings per share 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.