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

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) saw 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. Based on an average daily trading volume, of 1,138,207 shares, the days-to-cover ratio is presently 6.7 days. Approximately 12.6% of the company’s shares are short sold. Approximately 12.6% of the company’s shares are short sold. Based on an average daily trading volume, of 1,138,207 shares, the days-to-cover ratio is presently 6.7 days.

Analyst Ratings Changes

A number of analysts recently commented on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $31.00 target price on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. Guggenheim raised their price objective on Monte Rosa Therapeutics from $16.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Zacks Research downgraded Monte Rosa Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Piper Sandler reiterated an “overweight” rating and issued a $37.00 target price (up from $27.50) on shares of Monte Rosa Therapeutics in a report on Wednesday, January 14th. Finally, Wells Fargo & Company lifted their price target on shares of Monte Rosa Therapeutics from $22.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.33.

Insiders Place Their Bets

In related news, CEO Markus Warmuth sold 5,466 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $23.49, for a total value of $128,396.34. Following the transaction, the chief executive officer owned 618,937 shares in the company, valued at $14,538,830.13. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLUE. State Street Corp lifted its position in shares of Monte Rosa Therapeutics by 148.9% during the 4th quarter. State Street Corp now owns 2,107,480 shares of the company’s stock worth $33,045,000 after buying an additional 1,260,707 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Monte Rosa Therapeutics by 459.4% during the second quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company’s stock worth $5,791,000 after acquiring an additional 1,054,406 shares during the period. Vestal Point Capital LP bought a new stake in Monte Rosa Therapeutics during the third quarter worth $5,928,000. Marshall Wace LLP boosted its position in Monte Rosa Therapeutics by 102.4% in the third quarter. Marshall Wace LLP now owns 902,834 shares of the company’s stock worth $6,690,000 after purchasing an additional 456,754 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Monte Rosa Therapeutics by 588.4% in the 3rd quarter. Millennium Management LLC now owns 444,939 shares of the company’s stock valued at $3,297,000 after purchasing an additional 380,308 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Monte Rosa Therapeutics Stock Down 3.1%

NASDAQ:GLUE traded down $0.58 during trading hours on Monday, hitting $17.92. 743,196 shares of the company traded hands, compared to its average volume of 1,047,029. The company has a market cap of $1.17 billion, a PE ratio of 56.00 and a beta of 1.61. The firm’s 50-day simple moving average is $19.52 and its 200-day simple moving average is $12.69. Monte Rosa Therapeutics has a one year low of $3.50 and a one year high of $25.77.

Monte Rosa Therapeutics Company Profile

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.