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

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 9,330,612 shares, a growth of 21.7% from the January 29th total of 7,664,016 shares. Based on an average trading volume of 1,005,178 shares, the short-interest ratio is currently 9.3 days. Approximately 15.3% of the company’s stock are short sold. Approximately 15.3% of the company’s stock are short sold. Based on an average trading volume of 1,005,178 shares, the short-interest ratio is currently 9.3 days.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, insider Edmund Dunn sold 25,164 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $18.10, for a total transaction of $455,468.40. Following the transaction, the insider directly owned 22,693 shares of the company’s stock, valued at approximately $410,743.30. This trade represents a 52.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Markus Warmuth sold 5,466 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $23.49, for a total value of $128,396.34. Following the transaction, the chief executive officer directly owned 618,937 shares in the company, valued at approximately $14,538,830.13. This represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 31,166 shares of company stock worth $593,245. 6.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Institutional investors have recently bought and sold shares of the stock. Seven Fleet Capital Management LP purchased a new stake in Monte Rosa Therapeutics during the fourth quarter valued at about $63,000. Virtu Financial LLC raised its holdings in shares of Monte Rosa Therapeutics by 56.6% in the 4th quarter. Virtu Financial LLC now owns 18,717 shares of the company’s stock worth $293,000 after purchasing an additional 6,765 shares during the period. Invesco Ltd. lifted its stake in shares of Monte Rosa Therapeutics by 270.0% in the 4th quarter. Invesco Ltd. now owns 362,213 shares of the company’s stock valued at $5,680,000 after purchasing an additional 264,315 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Monte Rosa Therapeutics during the 4th quarter worth about $172,000. Finally, Empowered Funds LLC grew its holdings in shares of Monte Rosa Therapeutics by 218.0% during the 4th quarter. Empowered Funds LLC now owns 278,077 shares of the company’s stock worth $4,360,000 after purchasing an additional 190,627 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GLUE has been the topic of a number of recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $31.00 price target on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price objective (up from $27.50) on shares of Monte Rosa Therapeutics in a report on Wednesday, January 14th. Wells Fargo & Company increased their target price on Monte Rosa Therapeutics from $22.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Monte Rosa Therapeutics in a report on Monday, December 29th. Finally, Zacks Research lowered Monte Rosa Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.33.

Monte Rosa Therapeutics Stock Down 2.9%

NASDAQ GLUE opened at $17.96 on Wednesday. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 56.13 and a beta of 1.63. Monte Rosa Therapeutics has a fifty-two week low of $3.50 and a fifty-two week high of $25.77. The business has a fifty day moving average of $19.95 and a 200-day moving average of $13.87.

About Monte Rosa Therapeutics

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.