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

by · The Markets Daily

C4 Therapeutics, Inc. (NASDAQ:CCCC – Get Free Report) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 8,870,000 shares, a growth 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 days-to-cover ratio is currently 7.3 days.

Analyst Ratings Changes

Several research firms recently weighed in on CCCC. Stephens initiated coverage on C4 Therapeutics in a report on Monday, November 18th. They set an “equal weight” rating and a $4.00 price target for the company. Wells Fargo & Company raised shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $8.00 to $12.00 in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.67.

Check Out Our Latest Stock Analysis on C4 Therapeutics

C4 Therapeutics Price Performance

C4 Therapeutics stock traded down $0.04 during mid-day trading on Tuesday, reaching $3.60. 2,230,458 shares of the company were exchanged, compared to its average volume of 2,084,740. The firm has a market cap of $254.12 million, a PE ratio of -2.12 and a beta of 2.92. The company has a fifty day simple moving average of $4.69 and a 200-day simple moving average of $5.40. C4 Therapeutics has a 12 month low of $3.43 and a 12 month high of $11.88.

C4 Therapeutics (NASDAQ:CCCC – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $15.36 million for the quarter, compared to analysts’ expectations of $5.95 million. Sell-side analysts anticipate that C4 Therapeutics will post -1.52 earnings per share for the current year.

Institutional Investors Weigh In On C4 Therapeutics

Hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new position in C4 Therapeutics during the 3rd quarter worth $51,000. Headlands Technologies LLC acquired a new stake in shares of C4 Therapeutics during the 2nd quarter worth approximately $45,000. Cynosure Group LLC bought a new stake in C4 Therapeutics in the third quarter valued at $57,000. B. Riley Wealth Advisors Inc. bought a new position in C4 Therapeutics in the second quarter worth approximately $51,000. Finally, Aigen Investment Management LP acquired a new stake in C4 Therapeutics in the third quarter valued at approximately $82,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

C4 Therapeutics Company Profile

(Get Free Report)

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.

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