Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Sees Significant Increase in Short Interest

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

Institutional Trading of Monte Rosa Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Monte Rosa Therapeutics by 10,665.5% during the fourth quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock worth $41,000 after buying an additional 5,866 shares during the period. SG Americas Securities LLC bought a new position in shares of Monte Rosa Therapeutics during the third quarter valued at about $55,000. Intech Investment Management LLC purchased a new stake in Monte Rosa Therapeutics during the third quarter worth about $77,000. China Universal Asset Management Co. Ltd. purchased a new stake in Monte Rosa Therapeutics during the fourth quarter worth about $90,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Monte Rosa Therapeutics in the fourth quarter worth about $92,000. Institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Stock Down 2.3 %

Shares of NASDAQ GLUE opened at $6.51 on Tuesday. The stock has a market cap of $399.97 million, a price-to-earnings ratio of -3.56 and a beta of 1.46. Monte Rosa Therapeutics has a twelve month low of $3.21 and a twelve month high of $12.40. The company’s fifty day moving average is $7.20 and its 200-day moving average is $6.47.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.16. The business had revenue of $9.22 million for the quarter, compared to the consensus estimate of $4.54 million. On average, research analysts anticipate that Monte Rosa Therapeutics will post -1.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GLUE. Wells Fargo & Company lowered shares of Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $14.00 to $11.00 in a research note on Thursday, December 19th. Wedbush reiterated 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 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.