Short Interest in C4 Therapeutics, Inc. (NASDAQ:CCCC) Expands By 19.7%

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the recipient of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 8,520,947 shares, an increase of 19.7% from the February 12th total of 7,121,324 shares. Based on an average daily volume of 2,505,143 shares, the short-interest ratio is currently 3.4 days. Approximately 9.6% of the shares of the company are short sold. Approximately 9.6% of the shares of the company are short sold. Based on an average daily volume of 2,505,143 shares, the short-interest ratio is currently 3.4 days.

C4 Therapeutics Stock Up 1.1%

CCCC stock opened at $2.76 on Wednesday. The company has a 50 day moving average of $2.32 and a two-hundred day moving average of $2.39. The company has a market cap of $269.32 million, a price-to-earnings ratio of -2.03 and a beta of 2.85. C4 Therapeutics has a 12-month low of $1.09 and a 12-month high of $3.82.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.25. C4 Therapeutics had a negative net margin of 292.08% and a negative return on equity of 53.83%. The business had revenue of $11.02 million for the quarter, compared to the consensus estimate of $4.48 million. On average, research analysts anticipate that C4 Therapeutics will post -1.52 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of C4 Therapeutics during the 2nd quarter valued at about $31,000. Catalyst Funds Management Pty Ltd acquired a new position in C4 Therapeutics in the second quarter worth approximately $40,000. Savant Capital LLC acquired a new position in C4 Therapeutics in the second quarter worth approximately $38,000. Tower Research Capital LLC TRC raised its position in C4 Therapeutics by 458.0% during the second quarter. Tower Research Capital LLC TRC now owns 40,592 shares of the company’s stock valued at $58,000 after acquiring an additional 33,317 shares in the last quarter. Finally, Engineers Gate Manager LP raised its position in C4 Therapeutics by 49.9% during the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock valued at $47,000 after acquiring an additional 8,130 shares in the last quarter. 78.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CCCC. Wall Street Zen raised C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. TD Cowen reissued a “buy” rating on shares of C4 Therapeutics in a report on Thursday, February 26th. Brookline Capital Acquisition lifted their price target on C4 Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Wednesday, January 21st. Finally, Barclays increased their target price on shares of C4 Therapeutics from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.20.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.