C4 Therapeutics Sees Unusually Large Options Volume (NASDAQ:CCCC)

C4 Therapeutics, Inc. (NASDAQ:CCCC) saw unusually large options trading on Wednesday. Stock investors purchased 8,470 call options on the company. This represents an increase of 1,003% compared to the average daily volume of 768 call options.

C4 Therapeutics Stock Down 2.5%

CCCC traded down $0.10 during trading on Wednesday, reaching $4.09. 675,791 shares of the stock traded hands, compared to its average volume of 2,698,963. The stock’s 50-day moving average is $3.96 and its 200 day moving average is $3.31. C4 Therapeutics has a 12 month low of $1.69 and a 12 month high of $5.17. The stock has a market capitalization of $503.81 million, a PE ratio of -4.09 and a beta of 2.91.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.05. The firm had revenue of $6.64 million during the quarter, compared to analyst estimates of $4.00 million. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%. As a group, equities research analysts anticipate that C4 Therapeutics will post -0.85 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a report on Friday, July 17th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Institutional Investors Weigh In On C4 Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System acquired a new position in C4 Therapeutics in the second quarter valued at approximately $30,000. SummitTX Capital L.P. acquired a new stake in shares of C4 Therapeutics during the 1st quarter worth approximately $28,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of C4 Therapeutics during the 1st quarter worth approximately $28,000. Zacks Investment Management bought a new stake in shares of C4 Therapeutics in the 3rd quarter valued at $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of C4 Therapeutics in the 3rd quarter valued at $43,000. 78.81% of the stock is currently owned by institutional investors.

About C4 Therapeutics

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.