Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Short Interest Down 12.6% in March

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the recipient of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 7,030,000 shares, a decrease of 12.6% from the February 28th total of 8,040,000 shares. Approximately 15.3% of the shares of the stock are sold short. Based on an average daily volume of 805,300 shares, the days-to-cover ratio is currently 8.7 days.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GLUE shares. Lifesci Capital began coverage on shares of Monte Rosa Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating and a $19.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $17.00 price objective (up previously from $15.00) on shares of Monte Rosa Therapeutics in a report on Thursday, March 20th. Finally, Wells Fargo & Company dropped their target price on Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, March 21st.

Insider Activity

In other news, Director Chandra P. Leo bought 10,000 shares of the business’s stock in a transaction on Monday, March 24th. The stock was acquired at an average price of $5.84 per share, with a total value of $58,400.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $58,400. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 6.50% of the company’s stock.

Institutional Trading of Monte Rosa Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in Monte Rosa Therapeutics by 2.2% in the 4th quarter. Wellington Management Group LLP now owns 221,741 shares of the company’s stock worth $1,539,000 after purchasing an additional 4,740 shares in the last quarter. Squarepoint Ops LLC bought a new position in Monte Rosa Therapeutics in the fourth quarter worth about $220,000. Two Sigma Advisers LP purchased a new stake in Monte Rosa Therapeutics in the fourth quarter worth about $180,000. Two Sigma Investments LP boosted its position in Monte Rosa Therapeutics by 1,965.1% during the 4th quarter. Two Sigma Investments LP now owns 278,785 shares of the company’s stock valued at $1,935,000 after acquiring an additional 265,285 shares in the last quarter. Finally, Rafferty Asset Management LLC purchased a new position in shares of Monte Rosa Therapeutics during the 4th quarter worth approximately $192,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Stock Down 4.5 %

Shares of Monte Rosa Therapeutics stock opened at $4.43 on Wednesday. The company’s fifty day simple moving average is $6.10 and its two-hundred day simple moving average is $6.74. Monte Rosa Therapeutics has a 12-month low of $3.21 and a 12-month high of $12.40. The firm has a market cap of $272.49 million, a PE ratio of -2.42 and a beta of 1.50.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results on Thursday, March 20th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.60. The business had revenue of $14.00 million for the quarter, compared to analysts’ expectations of $43.73 million. As a group, sell-side analysts expect that Monte Rosa Therapeutics will post -1.49 earnings per share for the current fiscal year.

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.