Short Interest in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Grows By 20.7%

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 8,454,052 shares, a growth of 20.7% from the December 15th total of 7,001,428 shares. Approximately 13.9% of the company’s shares are short sold. Based on an average daily trading volume, of 1,459,903 shares, the days-to-cover ratio is presently 5.8 days. Based on an average daily trading volume, of 1,459,903 shares, the days-to-cover ratio is presently 5.8 days. Approximately 13.9% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GLUE shares. Zacks Research upgraded shares of Monte Rosa Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Piper Sandler restated an “overweight” rating and issued a $37.00 target price (up previously from $27.50) on shares of Monte Rosa Therapeutics in a report on Wednesday, January 14th. Wedbush reaffirmed an “outperform” rating and set a $37.00 price target on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. Wells Fargo & Company lifted their price objective on Monte Rosa Therapeutics from $22.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $31.00 price objective on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Monte Rosa Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $31.33.

Insider Activity at Monte Rosa Therapeutics

In other news, CEO Markus Warmuth sold 5,466 shares of the 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 completion of the sale, the chief executive officer owned 618,937 shares of the company’s stock, valued at approximately $14,538,830.13. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Institutional investors have recently modified their holdings of the company. Tema Etfs LLC acquired a new stake in Monte Rosa Therapeutics in the 4th quarter valued at $388,000. Nisa Investment Advisors LLC lifted its stake in shares of Monte Rosa Therapeutics by 16.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,151 shares of the company’s stock valued at $49,000 after buying an additional 451 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Monte Rosa Therapeutics by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 26,955 shares of the company’s stock valued at $423,000 after buying an additional 2,358 shares during the last quarter. Mayflower Financial Advisors LLC bought a new stake in shares of Monte Rosa Therapeutics during the fourth quarter worth about $157,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Monte Rosa Therapeutics in the 4th quarter worth about $271,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Monte Rosa Therapeutics Trading Up 3.1%

NASDAQ:GLUE opened at $24.44 on Wednesday. The firm has a fifty day simple moving average of $17.56 and a two-hundred day simple moving average of $10.76. Monte Rosa Therapeutics has a 12 month low of $3.50 and a 12 month high of $25.77. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 76.38 and a beta of 1.60.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.06. Monte Rosa Therapeutics had a net margin of 11.54% and a return on equity of 8.28%. The company had revenue of $12.77 million for the quarter, compared to analysts’ expectations of $7.37 million. Equities analysts predict that Monte Rosa Therapeutics will post -1.49 earnings per share for the current fiscal year.

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.