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

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the recipient of a significant decline in short interest in January. As of January 15th, there was short interest totaling 5,554,802 shares, a decline of 34.3% from the December 31st total of 8,454,052 shares. Based on an average daily volume of 4,043,321 shares, the days-to-cover ratio is currently 1.4 days. Currently, 9.1% of the shares of the stock are sold short. Currently, 9.1% of the shares of the stock are sold short. Based on an average daily volume of 4,043,321 shares, the days-to-cover ratio is currently 1.4 days.

Monte Rosa Therapeutics Stock Performance

GLUE stock traded down $0.84 during midday trading on Friday, reaching $20.52. 1,532,122 shares of the company were exchanged, compared to its average volume of 2,612,458. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 64.13 and a beta of 1.60. Monte Rosa Therapeutics has a 1-year low of $3.50 and a 1-year high of $25.77. The stock’s 50-day simple moving average is $18.89 and its 200 day simple moving average is $11.63.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.06. The firm had revenue of $12.77 million during the quarter, compared to analysts’ expectations of $7.37 million. Monte Rosa Therapeutics had a net margin of 11.54% and a return on equity of 8.28%. On average, research analysts anticipate that Monte Rosa Therapeutics will post -1.49 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Guggenheim raised their target price on Monte Rosa Therapeutics from $16.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Jefferies Financial Group restated a “buy” rating and set a $31.00 price objective on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. Zacks Research upgraded shares of Monte Rosa Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. TD Cowen restated a “buy” rating on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $37.00 price objective on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, CEO Markus Warmuth sold 5,466 shares of Monte Rosa Therapeutics stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $23.49, for a total transaction of $128,396.34. Following the sale, the chief executive officer owned 618,937 shares of the company’s stock, valued at $14,538,830.13. The trade was a 0.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Monte Rosa Therapeutics by 8.6% in the 4th quarter. Vanguard Group Inc. now owns 3,246,500 shares of the company’s stock valued at $50,905,000 after buying an additional 257,547 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Monte Rosa Therapeutics by 32.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company’s stock worth $50,000 after acquiring an additional 776 shares during the period. CWM LLC raised its position in Monte Rosa Therapeutics by 13.6% in the fourth quarter. CWM LLC now owns 29,444 shares of the company’s stock worth $462,000 after acquiring an additional 3,536 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Monte Rosa Therapeutics in the fourth quarter valued at $778,000. Finally, Brookwood Investment Group LLC purchased a new stake in shares of Monte Rosa Therapeutics during the 4th quarter worth $306,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics is a biotechnology company focused on accelerating drug discovery through the integration of single-cell genomics and artificial intelligence. Founded in 2020 and headquartered in Cambridge, Massachusetts, the company has built a proprietary platform designed to identify novel therapeutic targets and optimize lead candidates for areas of high unmet medical need. By combining cutting-edge computational methods with comprehensive cellular profiling, Monte Rosa aims to streamline the preclinical development process and uncover insights into disease biology that might otherwise remain hidden.

The company’s main business activities center on using its AI-driven discovery engine to pursue programs in immuno-oncology and neuroscience.