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

C4 Therapeutics, Inc. (NASDAQ:CCCC) saw some unusual options trading activity on Wednesday. Traders purchased 8,470 call options on the company. This represents an increase of approximately 1,003% compared to the typical volume of 768 call options.

Hedge Funds Weigh In On C4 Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SummitTX Capital L.P. bought a new stake in shares of C4 Therapeutics in the first quarter valued at about $28,000. CTC Alternative Strategies Ltd. acquired a new position in shares of C4 Therapeutics during the first quarter worth about $28,000. Zacks Investment Management bought a new position in shares of C4 Therapeutics during the third quarter worth about $29,000. California State Teachers Retirement System acquired a new stake in C4 Therapeutics in the 2nd quarter valued at approximately $30,000. Finally, Delta Investment Management LLC acquired a new stake in C4 Therapeutics in the 4th quarter valued at approximately $38,000. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Price Performance

Shares of CCCC stock opened at $4.24 on Thursday. C4 Therapeutics has a one year low of $1.69 and a one year high of $5.17. The stock has a market cap of $521.65 million, a PE ratio of -4.24 and a beta of 2.91. The stock has a 50-day moving average of $3.97 and a 200-day moving average of $3.32.

C4 Therapeutics (NASDAQ:CCCC) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.05. C4 Therapeutics had a negative return on equity of 45.45% and a negative net margin of 289.44%.The business had revenue of $6.64 million for the quarter, compared to the consensus estimate of $4.00 million. As a group, research analysts anticipate that C4 Therapeutics will post -0.85 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of C4 Therapeutics in a report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.75.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degraders. Utilizing its proprietary Controlled Inducible Degradation (CiD) platform, the company seeks to eliminate disease-causing proteins by harnessing the body’s natural protein disposal machinery. This approach aims to address a wide range of oncology and immuno-oncology indications by targeting proteins that have historically been difficult to inhibit with traditional small molecules or antibodies.

The company’s pipeline includes multiple small-molecule degrader candidates advancing through preclinical and clinical stages.