C4 Therapeutics, Inc. (NASDAQ:CCCC) Short Interest Update

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totaling 16,157,271 shares, an increase of 19.4% from the March 15th total of 13,534,910 shares. Approximately 18.1% of the company’s stock are short sold. Based on an average trading volume of 1,918,825 shares, the short-interest ratio is currently 8.4 days.

C4 Therapeutics Stock Up 0.7%

Shares of NASDAQ CCCC opened at $2.92 on Friday. The company has a market capitalization of $284.93 million, a PE ratio of -2.15 and a beta of 2.85. The stock’s 50 day moving average price is $2.60 and its 200-day moving average price is $2.39. C4 Therapeutics has a twelve month low of $1.20 and a twelve month high of $3.82.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.25. C4 Therapeutics had a negative return on equity of 53.83% and a negative net margin of 292.08%.The company had revenue of $11.02 million during the quarter, compared to the consensus estimate of $4.48 million. As a group, research analysts expect that C4 Therapeutics will post -1.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CCCC has been the topic of a number of research reports. Barclays upped their target price on C4 Therapeutics from $5.00 to $7.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. TD Cowen reissued a “buy” rating on shares of C4 Therapeutics in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. upped their price objective on shares of C4 Therapeutics from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.75.

Institutional Investors Weigh In On C4 Therapeutics

A number of hedge funds have recently made changes to their positions in CCCC. Algert Global LLC purchased a new stake in C4 Therapeutics during the third quarter worth about $236,000. AQR Capital Management LLC boosted its stake in C4 Therapeutics by 957.6% in the first quarter. AQR Capital Management LLC now owns 140,532 shares of the company’s stock valued at $225,000 after acquiring an additional 127,244 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of C4 Therapeutics during the 4th quarter valued at approximately $225,000. Invesco Ltd. grew its position in shares of C4 Therapeutics by 11.1% during the 2nd quarter. Invesco Ltd. now owns 155,017 shares of the company’s stock valued at $222,000 after acquiring an additional 15,531 shares during the period. Finally, Atom Investors LP purchased a new stake in shares of C4 Therapeutics during the 4th quarter worth approximately $200,000. 78.81% of the stock is currently owned by institutional investors.

C4 Therapeutics Company Profile

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.