C4 Therapeutics, Inc. (NASDAQ:CCCC) Sees Large Decrease in Short Interest

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 5,850,000 shares, a drop of 12.0% from the October 15th total of 6,650,000 shares. Based on an average trading volume of 975,000 shares, the short-interest ratio is currently 6.0 days.

Institutional Trading of C4 Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in C4 Therapeutics by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,369,676 shares of the company’s stock worth $7,809,000 after buying an additional 7,460 shares in the last quarter. Vestcor Inc bought a new stake in C4 Therapeutics during the third quarter worth about $168,000. M&T Bank Corp boosted its position in C4 Therapeutics by 19.3% during the third quarter. M&T Bank Corp now owns 113,907 shares of the company’s stock valued at $649,000 after purchasing an additional 18,466 shares during the last quarter. Barclays PLC grew its stake in C4 Therapeutics by 38.4% in the third quarter. Barclays PLC now owns 243,457 shares of the company’s stock valued at $1,387,000 after purchasing an additional 67,546 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of C4 Therapeutics during the 3rd quarter worth approximately $484,000. Institutional investors own 78.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets reaffirmed an “outperform” rating and issued a $20.00 target price on shares of C4 Therapeutics in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, C4 Therapeutics presently has an average rating of “Hold” and a consensus target price of $11.20.

C4 Therapeutics Price Performance

CCCC traded down $0.41 during trading on Friday, reaching $4.31. The company had a trading volume of 1,514,488 shares, compared to its average volume of 820,382. The business’s fifty day moving average price is $5.89 and its 200 day moving average price is $5.73. C4 Therapeutics has a 12 month low of $1.06 and a 12 month high of $11.88. The company has a market cap of $304.24 million, a P/E ratio of -2.54 and a beta of 3.04.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. The company had revenue of $15.36 million for the quarter, compared to analyst estimates of $5.95 million. As a group, sell-side analysts predict that C4 Therapeutics will post -1.48 EPS for the current fiscal year.

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.