C4 Therapeutics, Inc. (NASDAQ:CCCC) Short Interest Down 20.3% in January

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 7,400,000 shares, a drop 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.

C4 Therapeutics Stock Performance

Shares of NASDAQ CCCC traded down $0.02 during mid-day trading on Monday, reaching $3.18. The company had a trading volume of 1,812,688 shares, compared to its average volume of 1,845,150. The company has a market capitalization of $224.48 million, a price-to-earnings ratio of -1.87 and a beta of 2.95. The stock has a fifty day moving average of $3.76 and a two-hundred day moving average of $4.98. C4 Therapeutics has a 12-month low of $3.15 and a 12-month high of $11.88.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CCCC. Wells Fargo & Company upgraded shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $8.00 to $12.00 in a research report on Thursday, December 19th. Stephens began coverage on 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.60.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CCCC. Soleus Capital Management L.P. boosted its stake in shares of C4 Therapeutics by 5.7% during the 4th quarter. Soleus Capital Management L.P. now owns 6,978,942 shares of the company’s stock valued at $25,124,000 after buying an additional 374,946 shares during the period. Wexford Capital LP raised its holdings in shares of C4 Therapeutics by 114.2% during the fourth quarter. Wexford Capital LP now owns 118,331 shares of the company’s stock worth $426,000 after acquiring an additional 63,100 shares in the last quarter. Tang Capital Management LLC boosted its position in C4 Therapeutics by 28.6% during the fourth quarter. Tang Capital Management LLC now owns 900,000 shares of the company’s stock valued at $3,240,000 after purchasing an additional 200,000 shares during the last quarter. ProShare Advisors LLC grew its stake in C4 Therapeutics by 83.1% in the fourth quarter. ProShare Advisors LLC now owns 20,283 shares of the company’s stock valued at $73,000 after purchasing an additional 9,204 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in C4 Therapeutics by 6.4% in the 4th quarter. Nuveen Asset Management LLC now owns 192,424 shares of the company’s stock worth $693,000 after purchasing an additional 11,571 shares during the last quarter. 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.