Short Interest in C4 Therapeutics, Inc. (NASDAQ:CCCC) Expands By 58.8%

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the target of a significant 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. Currently, 15.2% of the shares of the company are sold short. Based on an average daily trading volume, of 3,621,849 shares, the short-interest ratio is currently 3.7 days.

C4 Therapeutics Stock Performance

Shares of C4 Therapeutics stock opened at $2.41 on Friday. The firm has a 50-day simple moving average of $2.38 and a two-hundred day simple moving average of $2.39. The company has a market cap of $235.17 million, a P/E ratio of -1.77 and a beta of 2.85. 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 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 firm had revenue of $11.02 million for the quarter, compared to analysts’ expectations of $4.48 million. Equities research analysts forecast that C4 Therapeutics will post -1.52 EPS for the current year.

Institutional Trading of C4 Therapeutics

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its stake in shares of C4 Therapeutics by 957.6% during the 1st quarter. AQR Capital Management LLC now owns 140,532 shares of the company’s stock worth $225,000 after buying an additional 127,244 shares during the period. Goldman Sachs Group Inc. grew its stake in C4 Therapeutics by 8.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 622,720 shares of the company’s stock valued at $996,000 after acquiring an additional 49,065 shares during the period. Acadian Asset Management LLC acquired a new stake in C4 Therapeutics in the 1st quarter valued at $43,000. Dynamic Technology Lab Private Ltd purchased a new stake in C4 Therapeutics in the 2nd quarter worth $31,000. Finally, XTX Topco Ltd increased its holdings in C4 Therapeutics by 170.0% in the 2nd quarter. XTX Topco Ltd now owns 108,278 shares of the company’s stock worth $155,000 after acquiring an additional 68,178 shares in the last quarter. 78.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a report on Wednesday, January 21st. raised their target price on C4 Therapeutics from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. TD Cowen reaffirmed a “buy” rating on shares of C4 Therapeutics in a research report on Thursday, February 26th. Wall Street Zen upgraded C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Barclays increased their price objective on C4 Therapeutics from $5.00 to $7.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Five 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.75.

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.