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

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 11,010,000 shares, a decrease of 7.6% from the September 15th total of 11,920,000 shares. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is presently 9.0 days.

C4 Therapeutics Stock Down 8.4 %

Shares of CCCC traded down $0.59 during mid-day trading on Thursday, reaching $6.41. The company’s stock had a trading volume of 733,897 shares, compared to its average volume of 2,259,083. The company has a market cap of $441.05 million, a price-to-earnings ratio of -2.76 and a beta of 3.04. The business has a fifty day moving average of $6.00 and a 200 day moving average of $5.93. C4 Therapeutics has a 1 year low of $1.06 and a 1 year high of $11.88.

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

Hedge Funds Weigh In On C4 Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CCCC. Vanguard Group Inc. increased its position in C4 Therapeutics by 46.0% in the 1st quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock worth $23,857,000 after purchasing an additional 920,627 shares during the last quarter. Acadian Asset Management LLC grew its position in C4 Therapeutics by 415.8% in the second quarter. Acadian Asset Management LLC now owns 113,436 shares of the company’s stock worth $524,000 after acquiring an additional 91,443 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in C4 Therapeutics during the second quarter worth $881,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of C4 Therapeutics in the second quarter worth about $660,000. Finally, Entropy Technologies LP bought a new stake in shares of C4 Therapeutics during the 1st quarter worth about $126,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets restated an “outperform” rating and issued a $20.00 price target on shares of C4 Therapeutics in a research report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

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.