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

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 7,030,000 shares, a decline of 12.6% from the February 28th total of 8,040,000 shares. Based on an average daily trading volume, of 805,300 shares, the short-interest ratio is presently 8.7 days. Currently, 15.3% of the company’s stock are sold short.

Insider Activity at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, Director Chandra P. Leo acquired 10,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were purchased at an average cost of $5.84 per share, with a total value of $58,400.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $58,400. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Monte Rosa Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of Monte Rosa Therapeutics by 23.3% during the third quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock valued at $5,538,000 after buying an additional 197,247 shares during the period. Barclays PLC lifted its stake in Monte Rosa Therapeutics by 395.1% in the 3rd quarter. Barclays PLC now owns 54,508 shares of the company’s stock worth $289,000 after purchasing an additional 43,499 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Monte Rosa Therapeutics by 54.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,100 shares of the company’s stock valued at $128,000 after purchasing an additional 8,500 shares during the period. JPMorgan Chase & Co. boosted its stake in Monte Rosa Therapeutics by 38.2% during the third quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company’s stock valued at $98,000 after buying an additional 5,125 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Monte Rosa Therapeutics by 14.8% during the third quarter. The Manufacturers Life Insurance Company now owns 117,877 shares of the company’s stock worth $625,000 after buying an additional 15,168 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

Monte Rosa Therapeutics Stock Performance

GLUE traded down $0.36 during midday trading on Thursday, reaching $4.05. The company had a trading volume of 296,195 shares, compared to its average volume of 989,173. The stock has a market cap of $249.12 million, a PE ratio of -2.21 and a beta of 1.50. The business has a 50-day moving average price of $6.08 and a two-hundred day moving average price of $6.73. Monte Rosa Therapeutics has a 12-month low of $3.21 and a 12-month high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.60. The firm had revenue of $14.00 million for the quarter, compared to the consensus estimate of $43.73 million. On average, research analysts anticipate that Monte Rosa Therapeutics will post -1.49 earnings per share for the current year.

Analyst Ratings Changes

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

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.