C4 Therapeutics Target of Unusually High Options Trading (NASDAQ:CCCC)

C4 Therapeutics, Inc. (NASDAQ:CCCC) was the target of unusually large options trading on Wednesday. Stock investors acquired 5,066 call options on the stock. This is an increase of approximately 390% compared to the typical volume of 1,033 call options.

Institutional Investors Weigh In On C4 Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Zacks Investment Management acquired a new stake in shares of C4 Therapeutics during the 3rd quarter worth approximately $29,000. Dynamic Technology Lab Private Ltd purchased a new stake in C4 Therapeutics during the second quarter worth $31,000. Savant Capital LLC acquired a new stake in C4 Therapeutics during the second quarter valued at $38,000. Catalyst Funds Management Pty Ltd purchased a new position in C4 Therapeutics in the second quarter valued at $40,000. Finally, Crestwood Advisors Group LLC acquired a new position in shares of C4 Therapeutics in the second quarter worth about $41,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

Analysts Set New Price Targets

CCCC has been the subject of several research analyst reports. Barclays decreased their price objective on shares of C4 Therapeutics from $10.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C4 Therapeutics in a report on Wednesday, October 8th. Guggenheim began coverage on shares of C4 Therapeutics in a research note on Wednesday, September 3rd. They set a “buy” rating and a $8.00 price objective for the company. TD Cowen assumed coverage on C4 Therapeutics in a research report on Tuesday, December 2nd. They issued a “buy” rating on the stock. Finally, Stephens restated an “overweight” rating and issued a $6.00 target price on shares of C4 Therapeutics in a research note on Monday, September 22nd. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, C4 Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $7.25.

C4 Therapeutics Stock Performance

NASDAQ:CCCC opened at $2.01 on Friday. C4 Therapeutics has a one year low of $1.09 and a one year high of $4.26. The firm has a market cap of $194.79 million, a price-to-earnings ratio of -1.20 and a beta of 2.87. The firm’s fifty day moving average is $2.44 and its two-hundred day moving average is $2.28.

C4 Therapeutics (NASDAQ:CCCC) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.03. C4 Therapeutics had a negative return on equity of 64.40% and a negative net margin of 395.51%.The business had revenue of $11.23 million during the quarter, compared to analyst estimates of $6.28 million. As a group, equities research analysts predict that C4 Therapeutics will post -1.52 earnings per share for the current fiscal year.

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.