C4 Therapeutics, Inc. (NASDAQ:CCCC) Short Interest Up 19.4% in March

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 16,157,271 shares, an increase of 19.4% from the March 15th total of 13,534,910 shares. Based on an average daily volume of 1,918,825 shares, the short-interest ratio is currently 8.4 days. Approximately 18.1% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of brokerages have commented on CCCC. Weiss Ratings reiterated a “sell (d-)” rating on shares of C4 Therapeutics in a report on Wednesday, January 21st. Wall Street Zen upgraded C4 Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. upped their target price on shares of C4 Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Barclays raised their price target on shares of C4 Therapeutics from $5.00 to $7.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Finally, TD Cowen reissued a “buy” rating on shares of C4 Therapeutics in a research report on Thursday, February 26th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.75.

C4 Therapeutics Trading Up 0.5%

CCCC traded up $0.02 during midday trading on Friday, hitting $2.92. The company’s stock had a trading volume of 101,319 shares, compared to its average volume of 2,357,838. C4 Therapeutics has a 52-week low of $1.20 and a 52-week high of $3.82. The firm has a 50-day moving average price of $2.58 and a two-hundred day moving average price of $2.39. The firm has a market cap of $284.45 million, a P/E ratio of -2.13 and a beta of 2.85.

C4 Therapeutics (NASDAQ:CCCC) last released its earnings results on Thursday, February 26th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.25. C4 Therapeutics had a negative net margin of 292.08% and a negative return on equity of 53.83%. The business had revenue of $11.02 million for the quarter, compared to analysts’ expectations of $4.48 million. On average, equities analysts expect that C4 Therapeutics will post -1.52 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CCCC. Virtu Financial LLC purchased a new stake in C4 Therapeutics during the fourth quarter valued at about $39,000. Invesco Ltd. lifted its stake in shares of C4 Therapeutics by 39.9% in the 4th quarter. Invesco Ltd. now owns 268,350 shares of the company’s stock valued at $513,000 after purchasing an additional 76,530 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of C4 Therapeutics in the 4th quarter valued at about $254,000. Man Group plc grew its holdings in shares of C4 Therapeutics by 72.9% during the 4th quarter. Man Group plc now owns 156,098 shares of the company’s stock worth $298,000 after purchasing an additional 65,820 shares during the period. Finally, Engineers Gate Manager LP increased its position in C4 Therapeutics by 49.9% during the 4th quarter. Engineers Gate Manager LP now owns 24,416 shares of the company’s stock worth $47,000 after purchasing an additional 8,130 shares in the last quarter. 78.81% of the stock is owned by hedge funds and other institutional investors.

About C4 Therapeutics

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.