Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Short Interest Update

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GLUE shares. Jefferies Financial Group reissued a “buy” rating and set a $31.00 price target on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. Wells Fargo & Company raised their price target 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. Piper Sandler reissued an “overweight” rating and set a $37.00 target price (up from $27.50) on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 14th. Wedbush restated an “outperform” rating and set a $37.00 target price on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Finally, Zacks Research lowered shares of Monte Rosa Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Seven 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.33.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, CEO Markus Warmuth sold 5,466 shares of Monte Rosa Therapeutics stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $17.92, for a total transaction of $97,950.72. Following the completion of the sale, the chief executive officer owned 613,471 shares of the company’s stock, valued at approximately $10,993,400.32. The trade was a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edmund Dunn sold 25,164 shares of the company’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 sale, the insider owned 22,693 shares of the company’s stock, valued at $410,743.30. The trade was a 52.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 36,632 shares of company stock valued at $691,195. 6.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in shares of Monte Rosa Therapeutics in the 4th quarter valued at about $30,000. Russell Investments Group Ltd. acquired a new position in Monte Rosa Therapeutics during the third quarter valued at approximately $32,000. Lazard Asset Management LLC grew its stake in Monte Rosa Therapeutics by 42.9% in the second quarter. Lazard Asset Management LLC now owns 10,857 shares of the company’s stock valued at $48,000 after purchasing an additional 3,262 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in 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 purchasing an additional 451 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Monte Rosa Therapeutics by 32.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company’s stock worth $50,000 after purchasing an additional 776 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Monte Rosa Therapeutics Stock Up 3.6%

NASDAQ:GLUE opened at $18.61 on Thursday. The company has a market cap of $1.21 billion, a P/E ratio of 58.16 and a beta of 1.63. Monte Rosa Therapeutics has a twelve month low of $3.50 and a twelve month high of $25.77. The business has a 50 day moving average price of $19.97 and a two-hundred day moving average price of $13.90.

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.