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

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 8,070,000 shares, a decrease of 7.9% from the January 15th total of 8,760,000 shares. Currently, 17.6% of the shares of the stock are sold short. Based on an average trading volume of 1,160,000 shares, the short-interest ratio is presently 7.0 days.

Analysts Set New Price Targets

A number of analysts have recently commented on GLUE shares. Wells Fargo & Company cut shares of Monte Rosa Therapeutics from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $14.00 to $11.00 in a research note on Thursday, December 19th. Wedbush restated an "outperform" rating and set a $15.00 target price on shares of Monte Rosa Therapeutics in a report on Thursday, November 7th.

Monte Rosa Therapeutics Trading Down 6.2 %

NASDAQ:GLUE traded down $0.41 during trading hours on Friday, hitting $6.22. The company had a trading volume of 531,053 shares, compared to its average volume of 726,740. The company has a 50-day moving average of $6.50 and a 200 day moving average of $6.64. The company has a market cap of $382.16 million, a P/E ratio of -3.40 and a beta of 1.46. Monte Rosa Therapeutics has a 1 year low of $3.21 and a 1 year high of $12.40.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Monte Rosa Therapeutics by 7.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,116,637 shares of the company's stock worth $49,391,000 after purchasing an additional 515,496 shares during the period. Versant Venture Management LLC acquired a new position in Monte Rosa Therapeutics during the 4th quarter worth about $39,231,000. Vanguard Group Inc. lifted its stake in Monte Rosa Therapeutics by 24.5% during the 4th quarter. Vanguard Group Inc. now owns 3,156,354 shares of the company's stock worth $21,905,000 after acquiring an additional 622,134 shares in the last quarter. BVF Inc. IL acquired a new position in Monte Rosa Therapeutics during the 4th quarter worth about $19,185,000. Finally, Geode Capital Management LLC lifted its stake 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 acquiring an additional 197,247 shares in the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

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.