C4 Therapeutics, Inc. (NASDAQ:CCCC) Short Interest Up 11.0% in December

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 8,870,000 shares, an increase of 11.0% from the November 30th total of 7,990,000 shares. Based on an average trading volume of 1,210,000 shares, the days-to-cover ratio is currently 7.3 days.

Institutional Investors Weigh In On C4 Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. acquired a new position in C4 Therapeutics in the 3rd quarter worth $202,000. Barclays PLC boosted its position in shares of C4 Therapeutics by 38.4% during the third quarter. Barclays PLC now owns 243,457 shares of the company’s stock worth $1,387,000 after buying an additional 67,546 shares during the period. Geode Capital Management LLC boosted its position in shares of C4 Therapeutics by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,369,676 shares of the company’s stock worth $7,809,000 after buying an additional 7,460 shares during the period. Vestcor Inc bought a new position in shares of C4 Therapeutics during the third quarter worth about $168,000. Finally, M&T Bank Corp raised its position in C4 Therapeutics by 19.3% in the 3rd quarter. M&T Bank Corp now owns 113,907 shares of the company’s stock valued at $649,000 after buying an additional 18,466 shares during the last quarter. 78.81% of the stock is currently owned by institutional investors and hedge funds.

C4 Therapeutics Stock Down 1.1 %

Shares of CCCC traded down $0.04 during trading hours on Wednesday, reaching $3.60. The stock had a trading volume of 2,230,458 shares, compared to its average volume of 2,084,740. The company has a market cap of $254.12 million, a P/E ratio of -2.12 and a beta of 2.92. C4 Therapeutics has a 52 week low of $3.43 and a 52 week high of $11.88. The firm has a 50-day moving average of $4.69 and a 200 day moving average of $5.40.

C4 Therapeutics (NASDAQ:CCCC) last posted its earnings results on Thursday, October 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. The firm had revenue of $15.36 million during the quarter, compared to analysts’ expectations of $5.95 million. As a group, equities analysts expect that C4 Therapeutics will post -1.52 earnings per share for the current year.

Analysts Set New Price Targets

CCCC has been the topic of a number of analyst reports. Stephens assumed coverage on C4 Therapeutics in a research note on Monday, November 18th. They issued an “equal weight” rating and a $4.00 price target on the stock. Wells Fargo & Company raised C4 Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $8.00 to $12.00 in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, C4 Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $10.67.

About C4 Therapeutics

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.