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

C4 Therapeutics, Inc. (NASDAQ:CCCC) saw some unusual options trading activity on Wednesday. Stock traders purchased 5,066 call options on the company. This represents an increase of 390% compared to the typical volume of 1,033 call options.

C4 Therapeutics Price Performance

Shares of CCCC opened at $2.05 on Thursday. The company has a market capitalization of $198.67 million, a P/E ratio of -1.23 and a beta of 2.87. C4 Therapeutics has a one year low of $1.09 and a one year high of $4.26. The business’s 50 day simple moving average is $2.45 and its 200-day simple moving average is $2.28.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.03. C4 Therapeutics had a negative return on equity of 64.40% and a negative net margin of 395.51%.The firm had revenue of $11.23 million during the quarter, compared to analysts’ expectations of $6.28 million. On average, sell-side analysts anticipate that C4 Therapeutics will post -1.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CCCC has been the subject of a number of research analyst reports. TD Cowen began coverage on C4 Therapeutics in a report on Tuesday, December 2nd. They set a “buy” rating for the company. Barclays cut their price target on C4 Therapeutics from $10.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday. Zacks Research lowered C4 Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of C4 Therapeutics in a research report on Wednesday, October 8th. Finally, Guggenheim began coverage on shares of C4 Therapeutics in a research note on Wednesday, September 3rd. They set a “buy” rating and a $8.00 price target on the stock. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, C4 Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $7.25.

Institutional Trading of C4 Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new stake in C4 Therapeutics during the 3rd quarter worth about $43,000. Jacobs Levy Equity Management Inc. lifted its position in shares of C4 Therapeutics by 13.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 503,145 shares of the company’s stock worth $1,117,000 after purchasing an additional 61,410 shares in the last quarter. Voleon Capital Management LP bought a new stake in shares of C4 Therapeutics during the third quarter valued at approximately $63,000. Qube Research & Technologies Ltd acquired a new stake in shares of C4 Therapeutics in the third quarter valued at approximately $257,000. Finally, Bank of America Corp DE raised its position in C4 Therapeutics by 2.2% in the 3rd quarter. Bank of America Corp DE now owns 2,053,162 shares of the company’s stock worth $4,558,000 after purchasing an additional 45,158 shares during the last quarter. 78.81% of the stock is currently owned by institutional investors and hedge funds.

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.