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

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 7,840,000 shares, an increase of 49.9% from the October 15th total of 5,230,000 shares. Based on an average daily trading volume, of 2,080,000 shares, the days-to-cover ratio is currently 3.8 days. Approximately 17.0% of the company’s stock are sold short.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.16, for a total transaction of $57,097.04. Following the sale, the insider now directly owns 6,231,902 shares of the company’s stock, valued at $38,388,516.32. The trade was a 0.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 1,773,722 shares of company stock worth $11,573,438. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Monte Rosa Therapeutics by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,096,787 shares of the company’s stock worth $35,933,000 after acquiring an additional 155,880 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Monte Rosa Therapeutics by 3.0% during the first quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock worth $11,533,000 after purchasing an additional 47,412 shares during the last quarter. Geode Capital Management LLC raised its holdings in Monte Rosa Therapeutics by 23.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock valued at $5,538,000 after buying an additional 197,247 shares during the last quarter. Vestal Point Capital LP boosted its position in Monte Rosa Therapeutics by 4.5% during the 3rd quarter. Vestal Point Capital LP now owns 930,000 shares of the company’s stock worth $4,929,000 after buying an additional 40,000 shares during the period. Finally, State Street Corp grew its holdings in Monte Rosa Therapeutics by 8.1% during the 3rd quarter. State Street Corp now owns 687,577 shares of the company’s stock worth $3,644,000 after acquiring an additional 51,493 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $15.00 target price on shares of Monte Rosa Therapeutics in a report on Thursday, November 7th. Wells Fargo & Company cut their price objective on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, August 12th.

Monte Rosa Therapeutics Stock Performance

Monte Rosa Therapeutics stock traded down $0.74 during midday trading on Friday, reaching $7.74. 881,291 shares of the company’s stock were exchanged, compared to its average volume of 755,507. The stock’s 50-day simple moving average is $6.54 and its 200 day simple moving average is $5.28. The firm has a market cap of $475.52 million, a price-to-earnings ratio of -4.23 and a beta of 1.30. Monte Rosa Therapeutics has a 52 week low of $2.91 and a 52 week high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.16. The company had revenue of $9.22 million during the quarter, compared to analyst estimates of $4.54 million. Research analysts forecast that Monte Rosa Therapeutics will post -1.02 earnings per share for the current year.

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.