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

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

Monte Rosa Therapeutics Trading Up 0.5 %

Shares of GLUE stock traded up $0.03 during trading hours on Wednesday, hitting $5.95. 141,499 shares of the company were exchanged, compared to its average volume of 194,176. The firm has a fifty day simple moving average of $5.13 and a 200 day simple moving average of $5.25. The stock has a market capitalization of $300.55 million, a price-to-earnings ratio of -2.36 and a beta of 1.44. Monte Rosa Therapeutics has a 52-week low of $2.44 and a 52-week high of $8.84.

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

Analyst Ratings Changes

GLUE has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of Monte Rosa Therapeutics in a research note on Thursday, September 12th. Piper Sandler restated an “overweight” rating and set a $16.00 price target on shares of Monte Rosa Therapeutics in a research note on Friday, June 28th. Finally, Wells Fargo & Company decreased their price target on shares of 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.

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 541,897 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $6.00, for a total value of $3,251,382.00. Following the completion of the sale, the insider now owns 6,257,218 shares in the company, valued at approximately $37,543,308. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders sold 552,776 shares of company stock worth $3,314,645. Insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GLUE. Vanguard Group Inc. boosted 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 worth $11,533,000 after buying an additional 47,412 shares during the period. Acadian Asset Management LLC boosted its holdings 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 worth $390,000 after buying an additional 26,687 shares during the period. EntryPoint Capital LLC bought a new position in Monte Rosa Therapeutics in the 1st quarter worth approximately $112,000. Price T Rowe Associates Inc. MD boosted its holdings 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 worth $35,933,000 after buying an additional 155,880 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Monte Rosa Therapeutics by 16.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 109,864 shares of the company’s stock worth $411,000 after buying an additional 15,845 shares during the period. 79.96% of the stock is owned by institutional investors.

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.