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

C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 6,650,000 shares, a drop of 39.6% from the September 30th total of 11,010,000 shares. Based on an average daily trading volume, of 988,500 shares, the short-interest ratio is currently 6.7 days.

C4 Therapeutics Stock Performance

C4 Therapeutics stock traded down $0.06 during midday trading on Friday, reaching $5.89. The stock had a trading volume of 289,334 shares, compared to its average volume of 2,203,990. The stock has a market capitalization of $405.27 million, a PE ratio of -2.49 and a beta of 3.04. The stock's 50-day simple moving average is $6.06 and its 200 day simple moving average is $5.85. C4 Therapeutics has a twelve month low of $1.06 and a twelve month high of $11.88.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.11. The business had revenue of $12.01 million for the quarter, compared to analyst estimates of $6.88 million. C4 Therapeutics had a negative return on equity of 44.60% and a negative net margin of 367.17%. Equities analysts predict that C4 Therapeutics will post -1.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets reaffirmed an "outperform" rating and set a $20.00 price objective on shares of C4 Therapeutics in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $10.50.

Institutional Investors Weigh In On C4 Therapeutics

Several institutional investors have recently bought and sold shares of CCCC. Vanguard Group Inc. lifted its holdings in shares of C4 Therapeutics by 46.0% during the 1st 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 in the last quarter. Acadian Asset Management LLC raised its position in C4 Therapeutics by 415.8% in the second 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. Bank of New York Mellon Corp acquired a new position in shares of C4 Therapeutics during the second quarter worth about $881,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of C4 Therapeutics in the second quarter worth about $660,000. Finally, Entropy Technologies LP acquired a new stake in shares of C4 Therapeutics in the first quarter valued at about $126,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

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.