Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Short Interest Down 7.9% in January

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 8,070,000 shares, a decrease of 7.9% from the January 15th total of 8,760,000 shares. Approximately 17.6% of the company’s stock are short sold. Based on an average daily volume of 1,160,000 shares, the short-interest ratio is presently 7.0 days.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wedbush reissued an “outperform” rating and set a $15.00 target price on shares of Monte Rosa Therapeutics in a research report on Thursday, November 7th. Wells Fargo & Company lowered Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $14.00 to $11.00 in a report on Thursday, December 19th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GLUE. Tower Research Capital LLC TRC raised its holdings in shares of Monte Rosa Therapeutics by 192.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company’s stock worth $38,000 after purchasing an additional 3,584 shares during the period. GAMMA Investing LLC raised its stake in shares of Monte Rosa Therapeutics by 10,665.5% in the fourth quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock valued at $41,000 after buying an additional 5,866 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Monte Rosa Therapeutics during the 4th quarter valued at $43,000. SG Americas Securities LLC bought a new position in shares of Monte Rosa Therapeutics during the 3rd quarter worth $55,000. Finally, Virtus ETF Advisers LLC purchased a new stake in Monte Rosa Therapeutics in the 4th quarter worth about $63,000. 79.96% of the stock is owned by institutional investors.

Monte Rosa Therapeutics Stock Performance

GLUE opened at $6.55 on Wednesday. Monte Rosa Therapeutics has a fifty-two week low of $3.21 and a fifty-two week high of $12.40. The firm has a 50-day moving average of $6.57 and a 200 day moving average of $6.64.

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.