Short Interest in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Rises By 38.0%

by · The Markets Daily

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUEGet Free Report) was the recipient of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 7,664,016 shares, an increase of 38.0% from the January 15th total of 5,554,802 shares. Currently, 12.6% of the shares of the company are sold short. Based on an average daily volume of 1,138,207 shares, the days-to-cover ratio is currently 6.7 days. Based on an average daily volume of 1,138,207 shares, the days-to-cover ratio is currently 6.7 days. Currently, 12.6% of the shares of the company are sold short.

Monte Rosa Therapeutics Stock Down 3.1%

Monte Rosa Therapeutics stock traded down $0.58 during trading hours on Friday, hitting $17.92. 743,196 shares of the company traded hands, compared to its average volume of 1,052,130. Monte Rosa Therapeutics has a 1-year low of $3.50 and a 1-year high of $25.77. The firm has a market cap of $1.17 billion, a P/E ratio of 56.00 and a beta of 1.61. The firm’s 50-day simple moving average is $19.52 and its two-hundred day simple moving average is $12.64.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several hedge funds have recently modified their holdings of GLUE. Nantahala Capital Management LLC acquired a new stake in shares of Monte Rosa Therapeutics in the fourth quarter valued at $909,000. The Manufacturers Life Insurance Company raised its holdings in shares of Monte Rosa Therapeutics by 13.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 134,674 shares of the company’s stock worth $2,147,000 after purchasing an additional 16,291 shares in the last quarter. Advisory Research Inc. acquired a new stake in Monte Rosa Therapeutics during the fourth quarter valued at approximately $991,000. Rafferty Asset Management LLC bought a new stake in Monte Rosa Therapeutics during the fourth quarter worth approximately $1,057,000. Finally, Charles Schwab Investment Management Inc. grew its position in Monte Rosa Therapeutics by 17.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 448,714 shares of the company’s stock worth $7,036,000 after buying an additional 65,446 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GLUE. Guggenheim increased their price target on Monte Rosa Therapeutics from $16.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Wedbush reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. TD Cowen reissued a “buy” rating on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Wells Fargo & Company increased their price objective on shares of Monte Rosa Therapeutics from $22.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Monte Rosa Therapeutics in a research note on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.33.

Check Out Our Latest Analysis on Monte Rosa Therapeutics

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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