C4 Therapeutics, Inc. (NASDAQ:CCCC) Short Interest Up 11.0% in December

C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 8,870,000 shares, a growth of 11.0% from the November 30th total of 7,990,000 shares. Based on an average trading volume of 1,210,000 shares, the days-to-cover ratio is currently 7.3 days.

C4 Therapeutics Stock Down 1.1 %

Shares of NASDAQ CCCC traded down $0.04 during trading hours on Tuesday, hitting $3.60. The company had a trading volume of 2,230,458 shares, compared to its average volume of 2,084,740. The stock has a market capitalization of $254.12 million, a P/E ratio of -2.12 and a beta of 2.92. C4 Therapeutics has a 1-year low of $3.43 and a 1-year high of $11.88. The firm's 50 day moving average is $4.69 and its 200-day moving average is $5.40.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.35) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.05. The company had revenue of $15.36 million during the quarter, compared to the consensus estimate of $5.95 million. C4 Therapeutics had a negative net margin of 313.35% and a negative return on equity of 42.45%. On average, sell-side analysts predict that C4 Therapeutics will post -1.52 earnings per share for the current year.

Institutional Trading of C4 Therapeutics

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CCCC. Wells Fargo & Company upgraded shares of C4 Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $8.00 to $12.00 in a report on Thursday, December 19th. Stephens assumed coverage on shares of C4 Therapeutics in a research note on Monday, November 18th. They issued an "equal weight" rating and a $4.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $10.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.