Short Interest in C4 Therapeutics, Inc. (NASDAQ:CCCC) Drops By 12.0%

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in shares of C4 Therapeutics in the second quarter valued at about $45,000. B. Riley Wealth Advisors Inc. purchased a new stake in C4 Therapeutics during the 2nd quarter valued at approximately $51,000. Point72 DIFC Ltd purchased a new stake in C4 Therapeutics during the 3rd quarter valued at approximately $51,000. Cynosure Group LLC acquired a new stake in C4 Therapeutics during the 3rd quarter worth approximately $57,000. Finally, Aigen Investment Management LP purchased a new position in shares of C4 Therapeutics in the 3rd quarter valued at approximately $82,000. 78.81% of the stock is owned by hedge funds and other institutional investors.

C4 Therapeutics Trading Down 3.0 %

Shares of NASDAQ CCCC traded down $0.13 during trading hours on Monday, reaching $4.18. The stock had a trading volume of 788,750 shares, compared to its average volume of 2,120,114. The firm has a 50-day moving average of $5.89 and a 200-day moving average of $5.72. The firm has a market cap of $295.07 million, a price-to-earnings ratio of -2.34 and a beta of 3.04. C4 Therapeutics has a fifty-two week low of $1.06 and a fifty-two week high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.05. The business had revenue of $15.36 million during the quarter, compared to the consensus estimate of $5.95 million. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. On average, equities analysts predict that C4 Therapeutics will post -1.48 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on CCCC shares. Stephens assumed coverage on C4 Therapeutics in a report on Monday. They issued an “equal weight” rating and a $4.00 price objective on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $20.00 price target on shares of C4 Therapeutics in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.00.

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.