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

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GLUE. Geode Capital Management LLC boosted its holdings in shares of Monte Rosa Therapeutics by 23.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock valued at $5,538,000 after buying an additional 197,247 shares during the period. Barclays PLC raised its position in shares of Monte Rosa Therapeutics by 395.1% in the third quarter. Barclays PLC now owns 54,508 shares of the company’s stock valued at $289,000 after purchasing an additional 43,499 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Monte Rosa Therapeutics by 54.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,100 shares of the company’s stock worth $128,000 after purchasing an additional 8,500 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 purchasing an additional 132,614 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Monte Rosa Therapeutics by 14.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,877 shares of the company’s stock valued at $625,000 after purchasing an additional 15,168 shares during the period. 79.96% of the stock is owned by institutional investors.

Monte Rosa Therapeutics Stock Performance

Shares of GLUE stock opened at $6.51 on Tuesday. The stock’s 50-day moving average price is $7.20 and its 200 day moving average price is $6.47. Monte Rosa Therapeutics has a 52-week low of $3.21 and a 52-week high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its 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 company had revenue of $9.22 million for the quarter, compared to analyst estimates of $4.54 million. As a group, equities research analysts anticipate that Monte Rosa Therapeutics will post -1.49 EPS for the current 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.