Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Sees Large Growth in Short Interest

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 7,840,000 shares, a growth of 49.9% from the October 15th total of 5,230,000 shares. Currently, 17.0% of the company's shares are sold short. Based on an average daily volume of 2,080,000 shares, the short-interest ratio is presently 3.8 days.

Monte Rosa Therapeutics Stock Down 8.7 %

Shares of NASDAQ GLUE traded down $0.74 during trading on Friday, hitting $7.74. 881,291 shares of the company traded hands, compared to its average volume of 755,507. The firm has a market capitalization of $475.52 million, a P/E ratio of -4.23 and a beta of 1.30. The company has a 50-day moving average price of $6.54 and a 200-day moving average price of $5.28. Monte Rosa Therapeutics has a 1 year low of $2.91 and a 1 year high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its quarterly 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 firm had revenue of $9.22 million for the quarter, compared to analyst estimates of $4.54 million. Research analysts predict that Monte Rosa Therapeutics will post -1.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GLUE shares. Wedbush reiterated an "outperform" rating and set a $15.00 target price on shares of Monte Rosa Therapeutics in a research report on Thursday, November 7th. Wells Fargo & Company cut their price objective on shares of Monte Rosa Therapeutics from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Monday, August 12th.

Insider Transactions at Monte Rosa Therapeutics

In other news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the firm's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.16, for a total transaction of $57,097.04. Following the sale, the insider now owns 6,231,902 shares in the company, valued at $38,388,516.32. This trade represents a 0.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 1,773,722 shares of company stock worth $11,573,438 over the last ninety days. 6.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Monte Rosa Therapeutics

Several large investors have recently modified their holdings of GLUE. Ikarian Capital LLC acquired a new position in Monte Rosa Therapeutics during the 3rd quarter worth $1,651,000. Geode Capital Management LLC lifted its position in shares of Monte Rosa Therapeutics by 23.3% during the third quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company's stock worth $5,538,000 after purchasing an additional 197,247 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Monte Rosa Therapeutics by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,096,787 shares of the company's stock worth $35,933,000 after purchasing an additional 155,880 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Monte Rosa Therapeutics by 108.6% in the second quarter. Renaissance Technologies LLC now owns 254,714 shares of the company's stock valued at $953,000 after buying an additional 132,614 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Monte Rosa Therapeutics by 111.6% during the second quarter. Dimensional Fund Advisors LP now owns 153,758 shares of the company's stock valued at $575,000 after buying an additional 81,083 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.