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

C4 Therapeutics, Inc. (NASDAQ:CCCC) saw a significant growth in short interest in April. As of April 15th, there was short interest totaling 21,042,260 shares, a growth of 30.2% from the March 31st total of 16,157,271 shares. Approximately 23.6% of the shares of the stock are short sold. Based on an average daily volume of 4,170,419 shares, the days-to-cover ratio is currently 5.0 days.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. increased their target price on C4 Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a report 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. TD Cowen reissued a “buy” rating on shares of C4 Therapeutics in a report on Thursday, February 26th. Barclays increased their target price on C4 Therapeutics from $5.00 to $7.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a report on Monday, April 20th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.75.

C4 Therapeutics Stock Down 7.5%

Shares of C4 Therapeutics stock traded down $0.21 during mid-day trading on Wednesday, reaching $2.55. 1,334,289 shares of the stock traded hands, compared to its average volume of 2,337,855. The business has a 50-day moving average of $2.76 and a 200 day moving average of $2.43. C4 Therapeutics has a fifty-two week low of $1.21 and a fifty-two week high of $3.82. The stock has a market capitalization of $248.34 million, a PE ratio of -1.88 and a beta of 2.85.

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. 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 during the quarter, compared to analysts’ expectations of $4.48 million. On average, equities research analysts expect that C4 Therapeutics will post -1.01 EPS for the current fiscal year.

Institutional Investors Weigh In On C4 Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zacks Investment Management acquired a new stake in shares of C4 Therapeutics in the third quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of C4 Therapeutics in the third quarter valued at approximately $43,000. Delta Investment Management LLC acquired a new stake in shares of C4 Therapeutics in the fourth quarter valued at approximately $38,000. Virtu Financial LLC acquired a new stake in shares of C4 Therapeutics in the fourth quarter valued at approximately $39,000. Finally, Engineers Gate Manager LP increased its holdings in shares of C4 Therapeutics by 49.9% in the fourth quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock valued at $47,000 after purchasing an additional 8,130 shares during the last quarter. Institutional investors and hedge funds own 78.81% of the company’s stock.

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.