From MarketBeat:

C4 Therapeutics, Inc., has seen a substantial increase in short interest, with 8,100,000 shares now held short, marking a 330.9% increase from the previous month. Currently, the shares have a days-to-cover ratio of 0.7 days. Approximately 19.3% of the company’s shares are subject to short selling.

Several institutional investors have added or reduced their stakes in C4 Therapeutics, including Point72 Hong Kong Ltd, Lazard Asset Management LLC, Ensign Peak Advisors Inc, Tower Research Capital LLC TRC, and Hsbc Holdings PLC. These institutions altogether hold 74.88% of the company’s stock.

Trading at a high of $9.41 and a low of $1.06, C4 Therapeutics stock closed at $6.03 on December 15th. The 50-day simple moving average is $2.29 and the 200-day moving average is $2.68. The company has a market cap of $297.16 million, a P/E ratio of -2.11 and a beta of 2.20.

Despite a negative net margin and a negative return on equity, C4 Therapeutics reported better-than-expected earnings of ($0.55) per share for the quarter, surpassing analysts’ expectations. Revenue for the quarter was $11.07 million, as compared to the consensus estimate of $6.94 million.

C4 Therapeutics has garnered mixed ratings from Wall Street analysts. The stock currently has an average rating of “Hold” and an average target price of $9.60. However, sell-side recommendations indicate potential growth for the company, with analysts highlighting an average target price of $9.60.

C4 Therapeutics is a clinical-stage biopharmaceutical company focusing on degrading disease-causing proteins. Its lead product candidate, CFT7455, is currently in a Phase 1/2 trial and is aimed at treating various conditions, including multiple myeloma and peripheral T-cell lymphoma. The company is valued at $297.16 million.

The instant news alert was generated by narrative science technology and financial data from MarketBeat. The story was reviewed by MarketBeat’s editorial team prior to publication. For questions or comments about the story, reach out to [email protected].



Read more: C4 Therapeutics, Inc. (NASDAQ:CCCC) Short Interest Up 330.9% in December