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

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) saw a significant increase in short interest in the month of 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 daily trading volume, of 2,760,000 shares, the short-interest ratio is presently 3.3 days. Approximately 19.9% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $9.66, for a total transaction of $869,303.40. Following the completion of the sale, the insider now owns 2,007,948 shares in the company, valued at approximately $19,396,777.68. This represents a 4.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in Monte Rosa Therapeutics by 10,665.5% in 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 purchased a new position in shares of Monte Rosa Therapeutics in the third quarter valued at $55,000. Janney Montgomery Scott LLC acquired a new position in shares of Monte Rosa Therapeutics during the 4th quarter worth $92,000. Intech Investment Management LLC acquired a new position in shares of Monte Rosa Therapeutics during the 3rd quarter worth $77,000. Finally, JPMorgan Chase & Co. boosted its position 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 worth $98,000 after buying an additional 5,125 shares in the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on GLUE. Wells Fargo & Company downgraded Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their target price 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 price objective on shares of Monte Rosa Therapeutics in a research report on Thursday, November 7th.

Monte Rosa Therapeutics Stock Down 1.7 %

Shares of GLUE opened at $5.66 on Friday. The stock’s 50 day moving average is $7.76 and its two-hundred day moving average is $6.32. Monte Rosa Therapeutics has a twelve month low of $3.21 and a twelve month high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings results 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 business had revenue of $9.22 million during the quarter, compared to analysts’ expectations of $4.54 million. As a group, analysts anticipate that Monte Rosa Therapeutics will post -1.49 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.