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

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 3,270,000 shares, a growth of 6.9% from the August 31st total of 3,060,000 shares. Based on an average daily volume of 279,500 shares, the short-interest ratio is presently 11.7 days. Currently, 7.5% of the shares of the company are short sold.

Analyst Ratings Changes

Several research firms recently issued reports on GLUE. Piper Sandler reiterated an “overweight” rating and set a $16.00 target price on shares of Monte Rosa Therapeutics in a research report on Friday, June 28th. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Monte Rosa Therapeutics in a research report on Thursday, September 12th. Finally, Wells Fargo & Company lowered their target price on shares of Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, August 12th.

Insider Activity at Monte Rosa Therapeutics

In related news, major shareholder Versant Venture Capital Vi, L. sold 1,132,566 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $6.53, for a total value of $7,395,655.98. Following the completion of the sale, the insider now directly owns 5,099,336 shares of the company’s stock, valued at approximately $33,298,664.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 1,685,342 shares of company stock worth $10,710,301. Corporate insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in 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 period. Vanguard Group Inc. raised its holdings in Monte Rosa Therapeutics by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock valued at $11,533,000 after buying an additional 47,412 shares during the period. Renaissance Technologies LLC lifted its position in Monte Rosa Therapeutics by 108.6% in the second quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock worth $953,000 after buying an additional 132,614 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Monte Rosa Therapeutics by 111.6% during the second quarter. Dimensional Fund Advisors LP now owns 153,758 shares of the company’s stock worth $575,000 after buying an additional 81,083 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Monte Rosa Therapeutics by 16.9% during the second quarter. Bank of New York Mellon Corp now owns 109,864 shares of the company’s stock valued at $411,000 after acquiring an additional 15,845 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Stock Performance

Shares of Monte Rosa Therapeutics stock opened at $5.30 on Wednesday. Monte Rosa Therapeutics has a 12 month low of $2.44 and a 12 month high of $8.84. The stock has a 50 day moving average of $5.36 and a 200 day moving average of $5.21. The firm has a market cap of $267.71 million, a PE ratio of -2.10 and a beta of 1.44.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its earnings results on Thursday, August 8th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.07. The business had revenue of $4.70 million during the quarter, compared to analysts’ expectations of $3.20 million. As a group, equities research analysts forecast that Monte Rosa Therapeutics will post -1.89 earnings per share for the current fiscal 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.