Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Short Interest Update

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 9,140,000 shares, a growth of 8.8% from the December 15th total of 8,400,000 shares. Approximately 19.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,760,000 shares, the days-to-cover ratio is presently 3.3 days.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GLUE shares. Wells Fargo & Company lowered shares of Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $14.00 to $11.00 in a research note on Thursday, December 19th. Wedbush reissued an “outperform” rating and issued a $15.00 target price on shares of Monte Rosa Therapeutics in a research note on Thursday, November 7th.

Monte Rosa Therapeutics Stock Down 1.7 %

GLUE traded down $0.10 during trading on Monday, reaching $5.66. The company’s stock had a trading volume of 631,113 shares, compared to its average volume of 1,142,831. The company has a market cap of $347.75 million, a price-to-earnings ratio of -3.09 and a beta of 1.47. The firm has a fifty day simple moving average of $7.76 and a two-hundred day simple moving average of $6.33. Monte Rosa Therapeutics has a 1 year low of $3.21 and a 1 year high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.16. The firm had revenue of $9.22 million for the quarter, compared to analysts’ expectations of $4.54 million. As a group, equities analysts forecast that Monte Rosa Therapeutics will post -1.49 EPS for the current fiscal year.

Insider Activity at Monte Rosa Therapeutics

In related news, major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $9.66, for a total value of $869,303.40. Following the transaction, the insider now directly owns 2,007,948 shares of the company’s stock, valued at approximately $19,396,777.68. This trade represents a 4.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Monte Rosa Therapeutics

Several institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new stake in shares of Monte Rosa Therapeutics during the 4th quarter valued at approximately $92,000. SG Americas Securities LLC increased its holdings in Monte Rosa Therapeutics by 60.7% in the 4th quarter. SG Americas Securities LLC now owns 16,742 shares of the company’s stock valued at $116,000 after purchasing an additional 6,323 shares during the last quarter. GAMMA Investing LLC increased its holdings in Monte Rosa Therapeutics by 10,665.5% in the 4th quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock valued at $41,000 after purchasing an additional 5,866 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Monte Rosa Therapeutics by 38.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company’s stock valued at $98,000 after purchasing an additional 5,125 shares during the last quarter. Finally, Barclays PLC increased its holdings in Monte Rosa Therapeutics by 395.1% in the 3rd quarter. Barclays PLC now owns 54,508 shares of the company’s stock valued at $289,000 after purchasing an additional 43,499 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Company Profile

Monte Rosa Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. The company develops MRT-2359, an orally bioavailable molecular glue degrader targeting the translation termination factor protein GSPT1 for the treatment of MYC-driven tumors; MRT-6160 for the treatment of systemic and central nervous system autoimmune diseases; and MRT-8102 for the treatment of IL-1?/NLRP3 driven inflammatory diseases.