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

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) saw 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. Currently, 19.9% of the shares of the company are sold short. Based on an average daily volume of 2,760,000 shares, the short-interest ratio is currently 3.3 days.

Wall Street Analyst Weigh In

Several brokerages have commented on GLUE. Wells Fargo & Company cut shares of Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $14.00 to $11.00 in a research note on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $15.00 price objective on shares of Monte Rosa Therapeutics in a research note on Thursday, November 7th.

Monte Rosa Therapeutics Trading Down 1.7 %

NASDAQ GLUE traded down $0.10 on Monday, hitting $5.66. 631,113 shares of the company’s stock traded hands, compared to its average volume of 1,142,831. Monte Rosa Therapeutics has a 1-year low of $3.21 and a 1-year high of $12.40. The firm’s 50-day moving average price is $7.76 and its two-hundred day moving average price is $6.33. The firm has a market capitalization of $347.75 million, a PE ratio of -3.09 and a beta of 1.47.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share 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. On average, research analysts anticipate that Monte Rosa Therapeutics will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of Monte Rosa Therapeutics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $9.66, for a total value of $869,303.40. Following the completion of the sale, the insider now directly owns 2,007,948 shares in the company, valued at $19,396,777.68. This trade represents a 4.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors have recently made changes to their positions in GLUE. GAMMA Investing LLC increased its holdings in shares of Monte Rosa Therapeutics by 10,665.5% during 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 in the last quarter. SG Americas Securities LLC acquired a new position in Monte Rosa Therapeutics during the third quarter worth $55,000. Intech Investment Management LLC purchased a new position in Monte Rosa Therapeutics during the third quarter valued at $77,000. Janney Montgomery Scott LLC purchased a new position in Monte Rosa Therapeutics during the fourth quarter valued at $92,000. Finally, JPMorgan Chase & Co. grew its position in shares of Monte Rosa Therapeutics by 38.2% in the third 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 period. 79.96% of the stock is owned by hedge funds and other institutional investors.

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.