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

C4 Therapeutics, Inc. (NASDAQ:CCCC) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 5,290,000 shares, a growth of 78.1% from the February 29th total of 2,970,000 shares. Based on an average daily volume of 4,830,000 shares, the short-interest ratio is currently 1.1 days.

Institutional Investors Weigh In On C4 Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its stake in C4 Therapeutics by 144.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,382 shares of the company’s stock worth $26,000 after purchasing an additional 5,546 shares during the period. Tudor Investment Corp Et Al bought a new position in shares of C4 Therapeutics during the 3rd quarter valued at approximately $28,000. ExodusPoint Capital Management LP bought a new position in shares of C4 Therapeutics during the 1st quarter valued at approximately $33,000. Headlands Technologies LLC bought a new position in shares of C4 Therapeutics during the 4th quarter valued at approximately $39,000. Finally, FNY Investment Advisers LLC bought a new position in shares of C4 Therapeutics during the 4th quarter valued at approximately $49,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and issued a $13.00 price objective (up from $12.00) on shares of C4 Therapeutics in a report on Friday, February 23rd. JPMorgan Chase & Co. raised shares of C4 Therapeutics from an “underweight” rating to a “neutral” rating and set a $6.00 price objective for the company in a research report on Monday, January 29th. Finally, Morgan Stanley increased their price objective on shares of C4 Therapeutics to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $10.25.

C4 Therapeutics Trading Up 1.5 %

Shares of CCCC stock traded up $0.12 during trading hours on Thursday, hitting $8.17. 1,865,607 shares of the company’s stock were exchanged, compared to its average volume of 4,318,780. C4 Therapeutics has a 12-month low of $1.06 and a 12-month high of $11.88. The business’s 50 day simple moving average is $7.97 and its 200-day simple moving average is $4.66. The company has a market capitalization of $560.46 million, a PE ratio of -3.06 and a beta of 3.24.

C4 Therapeutics (NASDAQ:CCCC) last announced its earnings results on Thursday, February 22nd. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.01). The business had revenue of $3.26 million for the quarter, compared to the consensus estimate of $5.23 million. C4 Therapeutics had a negative net margin of 638.34% and a negative return on equity of 55.30%. Equities analysts anticipate that C4 Therapeutics will post -1.86 EPS for the current 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.