C4 Therapeutics, Inc. (NASDAQ:CCCC) Short Interest Up 10.8% in August

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 11,630,000 shares, an increase of 10.8% from the August 15th total of 10,500,000 shares. Based on an average daily trading volume, of 1,580,000 shares, the short-interest ratio is currently 7.4 days.

Institutional Investors Weigh In On C4 Therapeutics

A number of large investors have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. acquired a new position in C4 Therapeutics in the 2nd quarter worth approximately $51,000. Susquehanna Fundamental Investments LLC raised its holdings in shares of C4 Therapeutics by 152.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 129,801 shares of the company’s stock worth $600,000 after purchasing an additional 78,436 shares during the last quarter. Lynx1 Capital Management LP lifted its position in C4 Therapeutics by 89.3% during the second 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. Cornercap Investment Counsel Inc. purchased a new stake in C4 Therapeutics in the second quarter valued at $125,000. Finally, American Century Companies Inc. grew its position in C4 Therapeutics by 23.9% during the 2nd quarter. American Century Companies Inc. now owns 110,075 shares of the company’s stock worth $509,000 after purchasing an additional 21,225 shares during the period. 78.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets restated an “outperform” rating and issued a $20.00 price target on shares of C4 Therapeutics in a report on Tuesday, August 6th. Four equities 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, C4 Therapeutics currently has an average rating of “Hold” and a consensus target price of $9.29.

C4 Therapeutics Stock Performance

CCCC traded down $0.22 during trading on Wednesday, hitting $6.24. The stock had a trading volume of 238,248 shares, compared to its average volume of 2,415,107. The stock has a 50 day simple moving average of $6.16 and a two-hundred day simple moving average of $6.43. The company has a market capitalization of $429.35 million, a PE ratio of -2.73 and a beta of 3.05. C4 Therapeutics has a twelve month low of $1.06 and a twelve month high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates 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%. On average, equities research analysts anticipate that C4 Therapeutics will post -1.57 EPS for the current year.

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.