Short Interest in C4 Therapeutics, Inc. (NASDAQ:CCCC) Increases By 10.8%

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 11,630,000 shares, a growth of 10.8% from the August 15th total of 10,500,000 shares. Based on an average daily trading volume, of 1,580,000 shares, the days-to-cover ratio is presently 7.4 days.

Analyst Ratings Changes

Separately, BMO Capital Markets restated an “outperform” rating and set a $20.00 price target on shares of C4 Therapeutics in a research note on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, C4 Therapeutics has an average rating of “Hold” and a consensus price target of $9.29.

Institutional Investors Weigh In On C4 Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. acquired a new position in shares of C4 Therapeutics during the second quarter worth $51,000. Susquehanna Fundamental Investments LLC grew its stake in C4 Therapeutics by 152.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 129,801 shares of the company’s stock worth $600,000 after buying an additional 78,436 shares during the last quarter. Lynx1 Capital Management LP increased its position in C4 Therapeutics by 89.3% during the 2nd quarter. Lynx1 Capital Management LP now owns 6,880,527 shares of the company’s stock valued at $31,788,000 after buying an additional 3,245,865 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in C4 Therapeutics in the second quarter valued at about $125,000. Finally, American Century Companies Inc. boosted its holdings in C4 Therapeutics by 23.9% in the second quarter. American Century Companies Inc. now owns 110,075 shares of the company’s stock worth $509,000 after acquiring an additional 21,225 shares in the last quarter. Hedge funds and other institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Trading Up 1.6 %

Shares of CCCC traded up $0.10 during trading hours on Tuesday, hitting $6.46. The company had a trading volume of 713,735 shares, compared to its average volume of 2,424,933. The company has a market capitalization of $444.49 million, a PE ratio of -2.73 and a beta of 3.05. C4 Therapeutics has a one year low of $1.06 and a one year high of $11.88. The company’s fifty day moving average price is $6.13 and its two-hundred day moving average price is $6.46.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.11. The business had revenue of $12.01 million during the quarter, compared to analyst estimates of $6.88 million. C4 Therapeutics had a negative net margin of 367.17% and a negative return on equity of 44.60%. Analysts forecast that C4 Therapeutics will post -1.57 earnings per share for the current year.

About C4 Therapeutics

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.