Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Short Interest Up 8.8% in January

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report) was the recipient of a large 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. Based on an average daily volume of 2,760,000 shares, the short-interest ratio is presently 3.3 days. Approximately 19.9% of the shares of the stock are short sold.

Monte Rosa Therapeutics Stock Up 2.5 %

Shares of GLUE traded up $0.17 during trading hours on Wednesday, hitting $6.84. The company had a trading volume of 293,406 shares, compared to its average volume of 872,431. The firm has a market cap of $420.25 million, a P/E ratio of -3.74 and a beta of 1.46. Monte Rosa Therapeutics has a 52-week low of $3.21 and a 52-week high of $12.40. The stock's 50 day moving average price is $7.16 and its 200 day moving average price is $6.49.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.16. The company had revenue of $9.22 million for the quarter, compared to analysts' expectations of $4.54 million. On average, research analysts expect that Monte Rosa Therapeutics will post -1.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GLUE has been the subject of several research analyst reports. Wedbush reissued an "outperform" rating and set a $15.00 price objective on shares of Monte Rosa Therapeutics in a research note on Thursday, November 7th. Wells Fargo & Company lowered shares of Monte Rosa Therapeutics from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $14.00 to $11.00 in a report on Thursday, December 19th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Monte Rosa Therapeutics by 10,665.5% during the fourth quarter. GAMMA Investing LLC now owns 5,921 shares of the company's stock valued at $41,000 after buying an additional 5,866 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Monte Rosa Therapeutics in the third quarter worth about $55,000. China Universal Asset Management Co. Ltd. bought a new stake in Monte Rosa Therapeutics during the 4th quarter valued at $90,000. Janney Montgomery Scott LLC bought a new position in shares of Monte Rosa Therapeutics during the fourth quarter valued at approximately $92,000. Finally, Intech Investment Management LLC purchased a new stake in Monte Rosa Therapeutics during the third quarter worth $77,000. 79.96% of the stock is 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.