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

C4 Therapeutics, Inc. (NASDAQ:CCCC) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 7,400,000 shares, a decrease of 20.3% from the January 15th total of 9,280,000 shares. Based on an average trading volume of 1,700,000 shares, the short-interest ratio is presently 4.4 days.

Institutional Investors Weigh In On C4 Therapeutics

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in shares of C4 Therapeutics during the third quarter worth approximately $142,000. Hennion & Walsh Asset Management Inc. increased its position in shares of C4 Therapeutics by 34.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 192,364 shares of the company’s stock valued at $1,096,000 after purchasing an additional 49,532 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of C4 Therapeutics in the 3rd quarter valued at $82,000. LMR Partners LLP purchased a new stake in shares of C4 Therapeutics during the 3rd quarter worth $291,000. Finally, Intech Investment Management LLC acquired a new position in shares of C4 Therapeutics during the third quarter worth $155,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

C4 Therapeutics Stock Performance

Shares of NASDAQ:CCCC traded down $0.02 during trading on Monday, hitting $3.18. The company’s stock had a trading volume of 1,812,688 shares, compared to its average volume of 1,845,150. C4 Therapeutics has a fifty-two week low of $3.15 and a fifty-two week high of $11.88. The business has a 50 day moving average price of $3.78 and a two-hundred day moving average price of $5.00. The company has a market capitalization of $224.48 million, a PE ratio of -1.87 and a beta of 2.95.

Wall Street Analyst Weigh In

CCCC has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $8.00 to $12.00 in a research report on Thursday, December 19th. Stephens initiated coverage on shares of C4 Therapeutics in a report on Monday, November 18th. They issued an “equal weight” rating and a $4.00 target price for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, C4 Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $11.60.

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.