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

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

Insider Buying and Selling at Monte Rosa Therapeutics

In other news, major shareholder Versant Venture Capital Vi, L. sold 1,132,566 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $6.53, for a total value of $7,395,655.98. Following the transaction, the insider now directly owns 5,099,336 shares of the company’s stock, valued at approximately $33,298,664.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 1,685,342 shares of company stock worth $10,710,301 over the last ninety days. Corporate insiders own 6.50% of the company’s stock.

Institutional Trading of Monte Rosa Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 worth $35,933,000 after purchasing an additional 155,880 shares during the period. Renaissance Technologies LLC increased its stake in Monte Rosa Therapeutics by 108.6% during the 2nd quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock worth $953,000 after acquiring an additional 132,614 shares during the period. Dimensional Fund Advisors LP raised its holdings in Monte Rosa Therapeutics by 111.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 153,758 shares of the company’s stock valued at $575,000 after acquiring an additional 81,083 shares in the last quarter. Vanguard Group Inc. raised its holdings 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. Finally, Acadian Asset Management LLC lifted its position in shares of Monte Rosa Therapeutics by 77.4% during the 2nd quarter. Acadian Asset Management LLC now owns 98,557 shares of the company’s stock valued at $366,000 after acquiring an additional 43,009 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Ratings Changes

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

Monte Rosa Therapeutics Price Performance

Shares of GLUE stock remained flat at $5.30 during midday trading on Tuesday. 234,218 shares of the company traded hands, compared to its average volume of 212,486. The stock has a market cap of $267.71 million, a price-to-earnings ratio of -2.09 and a beta of 1.44. Monte Rosa Therapeutics has a 1-year low of $2.44 and a 1-year high of $8.84. The firm has a 50 day moving average price of $5.34 and a 200 day moving average price of $5.22.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.07. The firm had revenue of $4.70 million during the quarter, compared to the consensus estimate of $3.20 million. As a group, equities research analysts predict that Monte Rosa Therapeutics will post -1.89 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.