Stock Traders Purchase High Volume of Call Options on C4 Therapeutics (NASDAQ:CCCC)

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the target of some unusual options trading on Wednesday. Stock traders purchased 8,470 call options on the stock. This is an increase of 1,003% compared to the average volume of 768 call options.

C4 Therapeutics Stock Performance

Shares of NASDAQ:CCCC opened at $4.10 on Friday. C4 Therapeutics has a fifty-two week low of $1.69 and a fifty-two week high of $5.17. The business has a 50-day simple moving average of $3.97 and a two-hundred day simple moving average of $3.34. The firm has a market cap of $504.42 million, a price-to-earnings ratio of -4.10 and a beta of 2.91.

C4 Therapeutics (NASDAQ:CCCC) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. C4 Therapeutics had a negative net margin of 289.44% and a negative return on equity of 45.45%. The firm had revenue of $6.64 million for the quarter, compared to the consensus estimate of $4.00 million. As a group, research analysts predict that C4 Therapeutics will post -0.85 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a research note on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Institutional Investors Weigh In On C4 Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCCC. RA Capital Management L.P. bought a new stake in C4 Therapeutics in the 4th quarter worth approximately $15,280,000. Bain Capital Life Sciences Investors LLC lifted its holdings in shares of C4 Therapeutics by 545.0% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 7,171,910 shares of the company’s stock valued at $13,698,000 after buying an additional 6,060,000 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of C4 Therapeutics by 53.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company’s stock valued at $6,475,000 after buying an additional 859,235 shares during the period. Wells Fargo & Company MN boosted its stake in shares of C4 Therapeutics by 4,236.9% in the 4th quarter. Wells Fargo & Company MN now owns 809,260 shares of the company’s stock worth $1,546,000 after buying an additional 790,600 shares during the last quarter. Finally, Wasatch Advisors LP boosted its stake in shares of C4 Therapeutics by 10.4% in the 2nd quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company’s stock worth $10,617,000 after buying an additional 700,253 shares during the last quarter. Hedge funds and other institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.