C4 Therapeutics Sees Unusually Large Options Volume (NASDAQ:CCCC)

Key Points

• Call-option activity surged: Traders purchased 8,470 C4 Therapeutics call options, roughly 1,003% above the typical daily volume of 768.
• Institutional ownership increased: Several funds expanded their positions or initiated new stakes, with institutional investors and hedge funds now owning 78.81% of the stock.
• Analyst sentiment remains moderately positive: Despite one “Sell” rating, five analysts rate the stock a Buy, producing a “Moderate Buy” consensus and an average price target of $7.75 versus the recent $4.09 price.

C4 Therapeutics, Inc. (NASDAQ:CCCC - Get Free Report) was the recipient of unusually large options trading on Wednesday. Traders bought 8,470 call options on the company. This represents an increase of approximately 1,003% compared to the typical daily volume of 768 call options.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its stake in shares of C4 Therapeutics by 53.6% during the first quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company's stock valued at $6,475,000 after acquiring an additional 859,235 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of C4 Therapeutics by 18.9% in the second quarter. Wasatch Advisors LP now owns 3,522,644 shares of the company's stock worth $16,451,000 after purchasing an additional 560,883 shares during the last quarter. Stempoint Capital LP bought a new stake in shares of C4 Therapeutics in the first quarter worth $1,192,000. Dimensional Fund Advisors LP increased its holdings in C4 Therapeutics by 49.3% in the first quarter. Dimensional Fund Advisors LP now owns 442,518 shares of the company's stock valued at $1,160,000 after purchasing an additional 146,038 shares during the period. Finally, Velan Capital Investment Management LP bought a new position in C4 Therapeutics during the 2nd quarter worth $2,662,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

C4 Therapeutics Price Performance

NASDAQ:CCCC traded down $0.10 during mid-day trading on Wednesday, reaching $4.09. The stock had a trading volume of 675,791 shares, compared to its average volume of 2,698,963. The stock has a 50-day simple moving average of $3.96 and a two-hundred day simple moving average of $3.31. The stock has a market capitalization of $503.81 million, a PE ratio of -4.09 and a beta of 2.91. C4 Therapeutics has a 12 month low of $1.69 and a 12 month high of $5.17.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last released its 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 return on equity of 45.45% and a negative net margin of 289.44%.The firm had revenue of $6.64 million for the quarter, compared to analysts' expectations of $4.00 million. Equities analysts expect that C4 Therapeutics will post -0.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of C4 Therapeutics in a report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $7.75.

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.

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