Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Short Interest Up 9.7% in August

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 3,060,000 shares, a growth of 9.7% from the August 15th total of 2,790,000 shares. Approximately 7.2% of the company’s shares are short sold. Based on an average trading volume of 237,900 shares, the days-to-cover ratio is presently 12.9 days.

Monte Rosa Therapeutics Price Performance

Shares of GLUE stock traded up $0.03 on Wednesday, reaching $5.95. 141,499 shares of the company were exchanged, compared to its average volume of 194,176. The company has a market cap of $300.55 million, a price-to-earnings ratio of -2.36 and a beta of 1.44. The company has a 50-day moving average of $5.13 and a 200-day moving average of $5.25. Monte Rosa Therapeutics has a one year low of $2.44 and a one year high of $8.84.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.07. The company had revenue of $4.70 million for the quarter, compared to the consensus estimate of $3.20 million. As a group, sell-side analysts predict that Monte Rosa Therapeutics will post -1.89 EPS for the current year.

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $6.16, for a total transaction of $57,097.04. Following the sale, the insider now owns 6,231,902 shares of the company’s stock, valued at $38,388,516.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 552,776 shares of company stock valued at $3,314,645. 6.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in Monte Rosa Therapeutics by 3.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,096,787 shares of the company’s stock valued at $35,933,000 after acquiring an additional 155,880 shares in the last quarter. Acadian Asset Management LLC lifted its position in Monte Rosa Therapeutics by 92.5% in the 1st quarter. Acadian Asset Management LLC now owns 55,548 shares of the company’s stock valued at $390,000 after acquiring an additional 26,687 shares in the last quarter. Vanguard Group Inc. lifted its position in Monte Rosa Therapeutics by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock valued at $11,533,000 after acquiring an additional 47,412 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Monte Rosa Therapeutics in the 2nd quarter valued at about $38,000. Finally, EntryPoint Capital LLC purchased a new stake in Monte Rosa Therapeutics in the 1st quarter valued at about $112,000. Institutional investors own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on GLUE shares. Wedbush reaffirmed an “outperform” rating and set a $11.00 price target on shares of Monte Rosa Therapeutics in a research report on Thursday, September 12th. Piper Sandler reissued an “overweight” rating and set a $16.00 price objective on shares of Monte Rosa Therapeutics in a research report on Friday, June 28th. Finally, Wells Fargo & Company cut their price objective on shares of Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th.

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.