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

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

Insider Activity at Monte Rosa Therapeutics

In related news, major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $9.66, for a total value of $869,303.40. Following the transaction, the insider now owns 2,007,948 shares of the company’s stock, valued at $19,396,777.68. This represents a 4.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 6.50% of the stock is owned by corporate insiders.

Institutional Trading of Monte Rosa Therapeutics

A number of large investors have recently bought and sold shares of GLUE. GAMMA Investing LLC raised its holdings in shares of Monte Rosa Therapeutics by 10,665.5% in the fourth quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock valued at $41,000 after buying an additional 5,866 shares during the last quarter. SG Americas Securities LLC acquired a new position in Monte Rosa Therapeutics in the 3rd quarter valued at about $55,000. Intech Investment Management LLC purchased a new stake in Monte Rosa Therapeutics during the 3rd quarter valued at approximately $77,000. Janney Montgomery Scott LLC acquired a new stake in Monte Rosa Therapeutics during the 4th quarter worth approximately $92,000. Finally, JPMorgan Chase & Co. grew its stake in shares of 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. Institutional investors and hedge funds own 79.96% of the company’s stock.

Monte Rosa Therapeutics Stock Performance

GLUE opened at $5.66 on Tuesday. The stock has a market capitalization of $347.75 million, a P/E ratio of -3.09 and a beta of 1.47. Monte Rosa Therapeutics has a one year low of $3.21 and a one year high of $12.40. The business’s 50-day simple moving average is $7.68 and its 200-day simple moving average is $6.35.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.16. The firm had revenue of $9.22 million during the quarter, compared to analysts’ expectations of $4.54 million. On average, equities research analysts forecast that Monte Rosa Therapeutics will post -1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About Monte Rosa Therapeutics

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.