Short Interest in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Drops By 8.2%

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

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several institutional investors have recently modified their holdings of GLUE. Price T Rowe Associates Inc. MD raised its position in shares of Monte Rosa Therapeutics by 27.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,940,907 shares of the company’s stock worth $27,917,000 after purchasing an additional 1,070,360 shares during the last quarter. BlackRock Inc. lifted its position in shares of Monte Rosa Therapeutics by 7.0% in the second 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of Monte Rosa Therapeutics by 177.9% during the first 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 last quarter. T. Rowe Price Investment Management Inc. increased its position in 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 worth $14,722,000 after purchasing an additional 9,761 shares in the last quarter. Finally, Citadel Advisors LLC raised its stake in Monte Rosa Therapeutics by 695.2% in the 3rd quarter. Citadel Advisors LLC now owns 952,956 shares of the company’s stock valued at $7,785,000 after purchasing an additional 833,124 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Price Performance

Shares of NASDAQ GLUE traded down $0.51 during trading on Tuesday, hitting $6.06. 125,484 shares of the company were exchanged, compared to its average volume of 150,186. Monte Rosa Therapeutics has a 1 year low of $2.44 and a 1 year high of $8.84. The company has a market cap of $303.91 million, a price-to-earnings ratio of -2.30 and a beta of 1.45. The firm’s fifty day moving average price is $6.36 and its 200 day moving average price is $5.12.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.01). On average, research analysts forecast that Monte Rosa Therapeutics will post -2.25 earnings per share for the current year.

Analyst Ratings Changes

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

About Monte Rosa Therapeutics

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.