C4 Therapeutics, Inc. (NASDAQ:CCCC) Short Interest Up 58.8% in March

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 13,534,910 shares, an increase of 58.8% from the February 26th total of 8,520,947 shares. Based on an average daily volume of 3,621,849 shares, the short-interest ratio is presently 3.7 days. Approximately 15.2% of the company’s stock are short sold.

C4 Therapeutics Price Performance

Shares of C4 Therapeutics stock opened at $2.41 on Friday. The company has a market cap of $235.17 million, a PE ratio of -1.77 and a beta of 2.85. The firm has a fifty day moving average price of $2.38 and a two-hundred day moving average price of $2.40. C4 Therapeutics has a fifty-two week low of $1.09 and a fifty-two week high of $3.82.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of C4 Therapeutics

Several large investors have recently added to or reduced their stakes in CCCC. RA Capital Management L.P. acquired a new stake in shares of C4 Therapeutics during the fourth quarter worth approximately $15,280,000. Bain Capital Life Sciences Investors LLC raised its position in C4 Therapeutics by 545.0% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 7,171,910 shares of the company’s stock valued at $13,698,000 after purchasing an additional 6,060,000 shares during the last quarter. Wells Fargo & Company MN boosted its stake in C4 Therapeutics by 4,236.9% in the fourth quarter. Wells Fargo & Company MN now owns 809,260 shares of the company’s stock worth $1,546,000 after purchasing an additional 790,600 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of C4 Therapeutics by 10.4% during the second quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company’s stock worth $10,617,000 after purchasing an additional 700,253 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of C4 Therapeutics by 329.7% in the fourth quarter. Jane Street Group LLC now owns 874,794 shares of the company’s stock valued at $1,671,000 after buying an additional 671,226 shares in the last quarter. 78.81% of the stock is 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.