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

by · The Markets Daily

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUEGet Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 13,398,925 shares, an increase of 22.2% from the March 15th total of 10,964,393 shares. Approximately 18.0% of the company’s stock are sold short. Based on an average daily trading volume, of 1,520,828 shares, the short-interest ratio is presently 8.8 days.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, insider Philip Nickson sold 5,845 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $17.69, for a total transaction of $103,398.05. Following the transaction, the insider directly owned 55,000 shares in the company, valued at $972,950. This trade represents a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Markus Warmuth sold 5,466 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $17.92, for a total value of $97,950.72. Following the transaction, the chief executive officer owned 613,471 shares in the company, valued at approximately $10,993,400.32. This trade represents a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 37,150 shares of company stock worth $668,694. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in GLUE. State Street Corp grew its holdings in shares of Monte Rosa Therapeutics by 148.9% in the 4th quarter. State Street Corp now owns 2,107,480 shares of the company’s stock valued at $33,045,000 after buying an additional 1,260,707 shares during the period. MPM Bioimpact LLC acquired a new position in Monte Rosa Therapeutics in the 4th quarter worth $18,399,000. AQR Capital Management LLC boosted its stake in Monte Rosa Therapeutics by 459.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company’s stock worth $5,791,000 after purchasing an additional 1,054,406 shares during the period. Braidwell LP acquired a new position in Monte Rosa Therapeutics in the 4th quarter worth $14,870,000. Finally, Vestal Point Capital LP acquired a new position in Monte Rosa Therapeutics in the 3rd quarter worth $5,928,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Monte Rosa Therapeutics Price Performance

Shares of GLUE traded up $1.08 on Friday, hitting $19.78. The company’s stock had a trading volume of 890,327 shares, compared to its average volume of 1,268,372. The company has a market capitalization of $1.58 billion, a PE ratio of -43.00 and a beta of 1.63. Monte Rosa Therapeutics has a fifty-two week low of $3.51 and a fifty-two week high of $25.77. The company has a 50 day moving average price of $17.47 and a 200 day moving average price of $16.37.

Monte Rosa Therapeutics (NASDAQ:GLUEGet Free Report) last posted its quarterly earnings data on Tuesday, March 17th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.10). The company had revenue of $2.78 million during the quarter, compared to the consensus estimate of $17.09 million. Monte Rosa Therapeutics had a negative return on equity of 15.12% and a negative net margin of 31.23%. On average, equities analysts forecast that Monte Rosa Therapeutics will post -1.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GLUE shares. Guggenheim dropped their price objective on Monte Rosa Therapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Monte Rosa Therapeutics in a research report on Monday, December 29th. Wall Street Zen downgraded Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Wells Fargo & Company decreased their target price on Monte Rosa Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Finally, Zacks Research downgraded Monte Rosa Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Monte Rosa Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $32.80.

Get Our Latest Report on GLUE

About Monte Rosa Therapeutics

(Get Free Report)

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.

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