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

Key Points

• Short interest in C4 Therapeutics surged 30.2% in April to 21,042,260 shares, equal to 23.6% of shares sold short and a short‑interest ratio of 5.0 days.
• Shares fell about 7.5% to $2.55, leaving a market cap near $248M and the stock trading inside its 52‑week range of $1.21–$3.82.
• C4 beat expectations last quarter (EPS -$0.18 vs. est. -$0.43; revenue $11.02M vs. est. $4.48M) but remains unprofitable, while analysts maintain a consensus “Moderate Buy” with a target of $7.75.

C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 21,042,260 shares, a growth of 30.2% from the March 31st total of 16,157,271 shares. Currently, 23.6% of the shares of the company are sold short. Based on an average daily volume of 4,170,419 shares, the short-interest ratio is currently 5.0 days.

Hedge Funds Weigh In On C4 Therapeutics

A number of hedge funds have recently bought and sold shares of CCCC. Zacks Investment Management purchased a new position in C4 Therapeutics during the third quarter worth approximately $29,000. Delta Investment Management LLC purchased a new position in C4 Therapeutics during the fourth quarter worth approximately $38,000. Virtu Financial LLC purchased a new position in C4 Therapeutics during the fourth quarter worth approximately $39,000. Acadian Asset Management LLC purchased a new position in C4 Therapeutics during the first quarter worth approximately $43,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in C4 Therapeutics during the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 78.81% of the company's stock.

C4 Therapeutics Stock Down 7.5%

Shares of CCCC traded down $0.21 during mid-day trading on Wednesday, reaching $2.55. The company had a trading volume of 1,334,289 shares, compared to its average volume of 2,337,855. The stock has a market capitalization of $248.34 million, a P/E ratio of -1.88 and a beta of 2.85. The stock has a 50 day moving average of $2.76 and a two-hundred day moving average of $2.43. C4 Therapeutics has a 52-week low of $1.21 and a 52-week high of $3.82.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.43) by $0.25. The company had revenue of $11.02 million for the quarter, compared to the consensus estimate of $4.48 million. C4 Therapeutics had a negative return on equity of 53.83% and a negative net margin of 292.08%. On average, sell-side analysts expect that C4 Therapeutics will post -1.01 earnings per share for the current year.

Analyst Ratings Changes

CCCC has been the topic of a number of recent research reports. Barclays upped their target price on C4 Therapeutics from $5.00 to $7.00 and gave the stock an "overweight" rating in a research note on Thursday, February 26th. upped their target price on C4 Therapeutics from $20.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. TD Cowen restated a "buy" rating on shares of C4 Therapeutics in a research note on Thursday, February 26th. Weiss Ratings restated a "sell (d-)" rating on shares of C4 Therapeutics in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded C4 Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Saturday, February 28th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.75.

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.

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