Short Interest in C4 Therapeutics, Inc. (NASDAQ:CCCC) Decreases By 7.6%

C4 Therapeutics, Inc. (NASDAQ:CCCC) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 11,010,000 shares, a drop of 7.6% from the September 15th total of 11,920,000 shares. Based on an average trading volume of 1,220,000 shares, the days-to-cover ratio is currently 9.0 days.

Analyst Upgrades and Downgrades

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

C4 Therapeutics Stock Performance

Shares of NASDAQ:CCCC traded down $0.59 on Thursday, hitting $6.41. The stock had a trading volume of 733,897 shares, compared to its average volume of 2,259,083. The firm’s 50 day moving average price is $6.00 and its 200-day moving average price is $5.93. C4 Therapeutics has a twelve month low of $1.06 and a twelve month high of $11.88. The company has a market capitalization of $441.05 million, a price-to-earnings ratio of -2.76 and a beta of 3.04.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.11. The company had revenue of $12.01 million during the quarter, compared to analyst estimates of $6.88 million. C4 Therapeutics had a negative net margin of 367.17% and a negative return on equity of 44.60%. As a group, sell-side analysts predict that C4 Therapeutics will post -1.57 EPS for the current year.

Institutional Trading of C4 Therapeutics

Several large investors have recently made changes to their positions in the business. Lynx1 Capital Management LP lifted its position in C4 Therapeutics by 89.3% during the 2nd quarter. Lynx1 Capital Management LP now owns 6,880,527 shares of the company’s stock valued at $31,788,000 after purchasing an additional 3,245,865 shares during the period. Vanguard Group Inc. boosted its stake in C4 Therapeutics by 46.0% in the first quarter. Vanguard Group Inc. now owns 2,920,028 shares of the company’s stock valued at $23,857,000 after acquiring an additional 920,627 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in C4 Therapeutics during the 2nd quarter worth $881,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of C4 Therapeutics during the 2nd quarter valued at $660,000. Finally, Acadian Asset Management LLC lifted its stake in shares of C4 Therapeutics by 415.8% in the 2nd quarter. Acadian Asset Management LLC now owns 113,436 shares of the company’s stock valued at $524,000 after purchasing an additional 91,443 shares during the period. Institutional investors own 78.81% of the company’s stock.

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.