Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Sees Large Decline in Short Interest

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 1,680,000 shares, a decrease of 8.2% from the March 15th total of 1,830,000 shares. Currently, 5.3% of the company’s stock are sold short. Based on an average trading volume of 150,300 shares, the short-interest ratio is presently 11.2 days.

Wall Street Analysts Forecast Growth

Separately, Wedbush initiated coverage on shares of Monte Rosa Therapeutics in a report on Thursday, February 15th. They issued an “outperform” rating and a $11.00 target price on the stock.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in Monte Rosa Therapeutics by 27.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,940,907 shares of the company’s stock valued at $27,917,000 after buying an additional 1,070,360 shares during the last quarter. BlackRock Inc. grew its position in shares of Monte Rosa Therapeutics by 7.0% during the 2nd quarter. BlackRock Inc. now owns 3,860,356 shares of the company’s stock valued at $26,443,000 after acquiring an additional 250,935 shares during the period. Vanguard Group Inc. grew its position in shares of Monte Rosa Therapeutics by 177.9% during the 1st quarter. Vanguard Group Inc. now owns 3,002,772 shares of the company’s stock valued at $42,098,000 after acquiring an additional 1,922,156 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Monte Rosa Therapeutics by 0.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,934,539 shares of the company’s stock valued at $14,722,000 after acquiring an additional 9,761 shares during the period. Finally, Citadel Advisors LLC grew its position in shares of Monte Rosa Therapeutics by 695.2% during the 3rd quarter. Citadel Advisors LLC now owns 952,956 shares of the company’s stock valued at $7,785,000 after acquiring an additional 833,124 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Stock Performance

NASDAQ:GLUE traded down $0.17 on Wednesday, hitting $5.89. The stock had a trading volume of 52,105 shares, compared to its average volume of 148,836. The stock has a market cap of $295.38 million, a P/E ratio of -2.30 and a beta of 1.45. Monte Rosa Therapeutics has a 1 year low of $2.44 and a 1 year high of $8.84. The firm’s fifty day simple moving average is $6.36 and its two-hundred day simple moving average is $5.12.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.01). Equities research analysts predict that Monte Rosa Therapeutics will post -2.25 EPS for the current year.

Monte Rosa Therapeutics Company Profile

Monte Rosa Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. The company develops MRT-2359, an orally bioavailable molecular glue degrader targeting the translation termination factor protein GSPT1 for the treatment of MYC-driven tumors; MRT-6160 for the treatment of systemic and central nervous system autoimmune diseases; and MRT-8102 for the treatment of IL-1?/NLRP3 driven inflammatory diseases.