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

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 11,630,000 shares, a growth of 10.8% from the August 15th total of 10,500,000 shares. Based on an average daily trading volume, of 1,580,000 shares, the short-interest ratio is presently 7.4 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in shares of C4 Therapeutics in the second quarter valued at $45,000. B. Riley Wealth Advisors Inc. acquired a new stake in C4 Therapeutics in the 2nd quarter worth about $51,000. Lighthouse Investment Partners LLC purchased a new stake in C4 Therapeutics in the 4th quarter valued at about $124,000. Cornercap Investment Counsel Inc. acquired a new position in shares of C4 Therapeutics during the 2nd quarter valued at about $125,000. Finally, Entropy Technologies LP purchased a new position in shares of C4 Therapeutics during the 1st quarter worth about $126,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets reiterated an “outperform” rating and issued a $20.00 price target on shares of C4 Therapeutics in a research report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, C4 Therapeutics presently has a consensus rating of “Hold” and an average price target of $9.29.

C4 Therapeutics Stock Performance

CCCC stock traded up $0.10 during trading on Tuesday, hitting $6.46. The stock had a trading volume of 713,675 shares, compared to its average volume of 2,424,933. The stock has a market cap of $444.49 million, a price-to-earnings ratio of -2.68 and a beta of 3.05. The company’s 50 day moving average price is $6.13 and its two-hundred day moving average price is $6.46. C4 Therapeutics has a 1-year low of $1.06 and a 1-year high of $11.88.

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

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.