Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE – Get Free Report) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 2,860,000 shares, an increase of 11.7% from the June 30th total of 2,560,000 shares. Based on an average daily trading volume, of 233,800 shares, the days-to-cover ratio is currently 12.2 days. Approximately 6.7% of the company’s stock are short sold.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Monte Rosa Therapeutics in a research note on Wednesday, May 22nd. Piper Sandler restated an “overweight” rating and issued a $16.00 target price on shares of Monte Rosa Therapeutics in a research note on Friday, June 28th.
View Our Latest Report on GLUE
Monte Rosa Therapeutics Price Performance
Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.03. The business had revenue of $1.06 million for the quarter, compared to analyst estimates of $4.29 million. As a group, equities research analysts expect that Monte Rosa Therapeutics will post -1.92 EPS for the current year.
Hedge Funds Weigh In On Monte Rosa Therapeutics
A number of large investors have recently bought and sold shares of GLUE. Price T Rowe Associates Inc. MD grew its holdings in shares of Monte Rosa Therapeutics by 3.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,096,787 shares of the company’s stock valued at $35,933,000 after purchasing an additional 155,880 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Monte Rosa Therapeutics by 3.0% in the 1st 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. Bank of New York Mellon Corp boosted its position in Monte Rosa Therapeutics by 16.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 109,864 shares of the company’s stock valued at $411,000 after purchasing an additional 15,845 shares during the period. Acadian Asset Management LLC grew its stake in Monte Rosa Therapeutics by 92.5% during the 1st quarter. Acadian Asset Management LLC now owns 55,548 shares of the company’s stock worth $390,000 after buying an additional 26,687 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in Monte Rosa Therapeutics in the first quarter worth $112,000. Institutional investors own 79.96% of the company’s stock.
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.
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