Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Short Interest Down 7.9% in January

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 8,070,000 shares, a decrease of 7.9% from the January 15th total of 8,760,000 shares. Approximately 17.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,160,000 shares, the days-to-cover ratio is currently 7.0 days.

Wall Street Analyst Weigh In

GLUE has been the subject of a number of analyst reports. Wedbush reissued an “outperform” rating and issued a $15.00 price target on shares of Monte Rosa Therapeutics in a report on Thursday, November 7th. Wells Fargo & Company downgraded shares of Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $14.00 to $11.00 in a research note on Thursday, December 19th.

Monte Rosa Therapeutics Price Performance

GLUE stock traded down $0.23 during midday trading on Tuesday, hitting $6.55. The stock had a trading volume of 397,861 shares, compared to its average volume of 749,413. The company’s 50-day moving average price is $6.57 and its 200 day moving average price is $6.64. The firm has a market cap of $402.43 million, a PE ratio of -3.58 and a beta of 1.46. Monte Rosa Therapeutics has a 12-month low of $3.21 and a 12-month high of $12.40.

Institutional Investors Weigh In On Monte Rosa Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in GLUE. Tower Research Capital LLC TRC lifted its position in Monte Rosa Therapeutics by 192.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company’s stock worth $38,000 after buying an additional 3,584 shares during the period. GAMMA Investing LLC increased its stake in shares of Monte Rosa Therapeutics by 10,665.5% during the 4th quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock valued at $41,000 after acquiring an additional 5,866 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Monte Rosa Therapeutics during the 4th quarter worth about $43,000. Virtus ETF Advisers LLC acquired a new stake in shares of Monte Rosa Therapeutics in the fourth quarter worth approximately $63,000. Finally, SG Americas Securities LLC purchased a new stake in Monte Rosa Therapeutics in the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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.