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

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the target of 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 days-to-cover ratio is currently 1.1 days.

Hedge Funds Weigh In On C4 Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CCCC. Tower Research Capital LLC TRC increased its holdings 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 buying an additional 5,546 shares during the period. Tudor Investment Corp Et Al acquired a new position in C4 Therapeutics in the 3rd quarter worth approximately $28,000. ExodusPoint Capital Management LP acquired a new stake in shares of C4 Therapeutics during the 1st quarter worth approximately $33,000. Headlands Technologies LLC acquired a new stake in shares of C4 Therapeutics during the 4th quarter worth approximately $39,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of C4 Therapeutics during the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

Analysts Set New Price Targets

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

C4 Therapeutics Stock Up 1.5 %

NASDAQ:CCCC traded up $0.12 during mid-day trading on Thursday, reaching $8.17. The company’s stock had a trading volume of 1,865,607 shares, compared to its average volume of 4,318,780. C4 Therapeutics has a 1 year low of $1.06 and a 1 year high of $11.88. The stock has a fifty day moving average of $7.97 and a 200-day moving average of $4.66. The firm 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 released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.01). The firm had revenue of $3.26 million for the quarter, compared to analysts’ expectations of $5.23 million. C4 Therapeutics had a negative net margin of 638.34% and a negative return on equity of 55.30%. On average, analysts expect that C4 Therapeutics will post -1.86 earnings per share 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.