Short Interest in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Expands By 49.9%

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 7,840,000 shares, an increase of 49.9% from the October 15th total of 5,230,000 shares. Based on an average trading volume of 2,080,000 shares, the days-to-cover ratio is presently 3.8 days. Approximately 17.0% of the shares of the stock are short sold.

Insider Transactions at Monte Rosa Therapeutics

In other news, major shareholder Versant Venture Capital Vi, L. sold 1,132,566 shares of the stock in a transaction 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 completion of the sale, the insider now owns 5,099,336 shares in the company, valued at $33,298,664.08. This represents a 18.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 1,773,722 shares of company stock valued at $11,573,438 in the last three months. 6.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GLUE. Meeder Asset Management Inc. bought a new position in Monte Rosa Therapeutics in the 2nd quarter valued at approximately $38,000. SG Americas Securities LLC bought a new position in Monte Rosa Therapeutics in the 3rd quarter valued at approximately $55,000. Intech Investment Management LLC bought a new position in shares of Monte Rosa Therapeutics during the third quarter valued at $77,000. EntryPoint Capital LLC bought a new position in shares of Monte Rosa Therapeutics during the first quarter valued at $112,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Monte Rosa Therapeutics by 54.5% during the third 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 acquiring an additional 8,500 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wedbush restated an “outperform” rating and issued a $15.00 target price on shares of Monte Rosa Therapeutics in a report on Thursday, November 7th. Wells Fargo & Company cut their price objective on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, August 12th.

Monte Rosa Therapeutics Trading Down 8.7 %

Shares of GLUE stock traded down $0.74 on Friday, hitting $7.74. The stock had a trading volume of 881,291 shares, compared to its average volume of 755,507. Monte Rosa Therapeutics has a twelve month low of $2.91 and a twelve month high of $12.40. The firm has a market cap of $475.52 million, a P/E ratio of -4.23 and a beta of 1.30. The company has a fifty day moving average price of $6.54 and a two-hundred day moving average price of $5.28.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.16. The business had revenue of $9.22 million for the quarter, compared to the consensus estimate of $4.54 million. On average, analysts expect that Monte Rosa Therapeutics will post -1.02 earnings per share for the current year.

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.