C4 Therapeutics, Inc. (NASDAQ:CCCC) Short Interest Up 73.0% in March

C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 9,150,000 shares, a growth of 73.0% from the March 15th total of 5,290,000 shares. Based on an average daily trading volume, of 3,740,000 shares, the short-interest ratio is currently 2.4 days.

C4 Therapeutics Price Performance

CCCC traded up $0.07 during mid-day trading on Thursday, hitting $7.79. The stock had a trading volume of 862,423 shares, compared to its average volume of 3,922,263. The stock's fifty day simple moving average is $8.37 and its 200-day simple moving average is $5.05. The firm has a market capitalization of $534.39 million, a price-to-earnings ratio of -2.92 and a beta of 3.18. C4 Therapeutics has a 1-year low of $1.06 and a 1-year high of $11.88.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.01). C4 Therapeutics had a negative return on equity of 55.30% and a negative net margin of 638.34%. The firm had revenue of $3.26 million during the quarter, compared to analyst estimates of $5.23 million. As a group, research analysts expect that C4 Therapeutics will post -1.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C4 Therapeutics

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of C4 Therapeutics by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 1,999,401 shares of the company's stock worth $11,297,000 after buying an additional 74,545 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of C4 Therapeutics by 17.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,558,480 shares of the company's stock valued at $14,457,000 after acquiring an additional 372,021 shares during the last quarter. Commodore Capital LP acquired a new stake in shares of C4 Therapeutics in the fourth quarter valued at about $21,470,000. Point72 Asset Management L.P. increased its position in shares of C4 Therapeutics by 12,142.4% in the fourth quarter. Point72 Asset Management L.P. now owns 1,961,359 shares of the company's stock valued at $11,082,000 after acquiring an additional 1,945,338 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of C4 Therapeutics by 356.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 311,377 shares of the company's stock valued at $1,759,000 after acquiring an additional 243,230 shares during the last quarter. 78.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CCCC has been the topic of several research analyst reports. Stifel Nicolaus reaffirmed a "buy" rating and set a $13.00 price objective (up from $12.00) on shares of C4 Therapeutics in a research note on Friday, February 23rd. Morgan Stanley increased their price target on shares of C4 Therapeutics to $8.00 and gave the company an "equal weight" rating in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. raised shares of C4 Therapeutics from an "underweight" rating to a "neutral" rating and set a $6.00 price target on the stock in a research note on Monday, January 29th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.25.

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.

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