Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Short Interest Up 8.8% in January

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 9,140,000 shares, a growth of 8.8% from the December 31st total of 8,400,000 shares. Based on an average daily volume of 2,760,000 shares, the days-to-cover ratio is currently 3.3 days. Currently, 19.9% of the company’s shares are short sold.

Monte Rosa Therapeutics Stock Performance

Shares of GLUE stock opened at $6.51 on Tuesday. Monte Rosa Therapeutics has a 52-week low of $3.21 and a 52-week high of $12.40. The firm has a market capitalization of $399.97 million, a P/E ratio of -3.56 and a beta of 1.46. The stock has a 50 day moving average price of $7.20 and a 200 day moving average price of $6.47.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.16. The company had revenue of $9.22 million for the quarter, compared to analysts’ expectations of $4.54 million. As a group, sell-side analysts forecast that Monte Rosa Therapeutics will post -1.49 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GLUE shares. Wedbush reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Monte Rosa Therapeutics in a research note on Thursday, November 7th. Wells Fargo & Company downgraded Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $14.00 to $11.00 in a report on Thursday, December 19th.

Institutional Trading of Monte Rosa Therapeutics

A number of hedge funds have recently modified their holdings of GLUE. Ikarian Capital LLC purchased a new position in Monte Rosa Therapeutics during the third quarter worth approximately $1,651,000. Geode Capital Management LLC raised its position in Monte Rosa Therapeutics by 23.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock worth $5,538,000 after buying an additional 197,247 shares during the last quarter. Renaissance Technologies LLC raised its position 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 buying an additional 132,614 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Monte Rosa Therapeutics by 111.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 153,758 shares of the company’s stock worth $575,000 after purchasing an additional 81,083 shares during the period. Finally, State Street Corp grew its stake in shares of Monte Rosa Therapeutics by 8.1% during the 3rd quarter. State Street Corp now owns 687,577 shares of the company’s stock worth $3,644,000 after purchasing an additional 51,493 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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.