C4 Therapeutics, Inc. (NASDAQ:CCCC) Sees Significant Growth in Short Interest

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 14,540,000 shares, an increase of 9.7% from the May 31st total of 13,260,000 shares. Based on an average trading volume of 1,430,000 shares, the short-interest ratio is presently 10.2 days.

C4 Therapeutics Trading Up 5.0 %

Shares of CCCC stock opened at $4.85 on Tuesday. The stock has a 50 day moving average of $5.43 and a 200-day moving average of $6.66. C4 Therapeutics has a 12 month low of $1.06 and a 12 month high of $11.88.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.41). C4 Therapeutics had a negative net margin of 629.24% and a negative return on equity of 52.85%. The company had revenue of $3.04 million for the quarter, compared to analyst estimates of $10.93 million. As a group, sell-side analysts expect that C4 Therapeutics will post -1.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Stifel Nicolaus upped their target price on C4 Therapeutics from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Wells Fargo & Company increased their price target on C4 Therapeutics from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, C4 Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $10.13.

Hedge Funds Weigh In On C4 Therapeutics

Hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in C4 Therapeutics in the fourth quarter valued at about $39,000. FNY Investment Advisers LLC acquired a new position in shares of C4 Therapeutics in the 4th quarter worth approximately $49,000. Entropy Technologies LP bought a new position in shares of C4 Therapeutics during the 1st quarter worth approximately $126,000. Tower Research Capital LLC TRC boosted its stake in C4 Therapeutics by 33.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 16,322 shares of the company’s stock valued at $92,000 after buying an additional 4,063 shares in the last quarter. Finally, Caxton Associates LP bought a new stake in C4 Therapeutics in the first quarter valued at $172,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

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.