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

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) saw a large decrease in short interest in 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. Based on an average trading volume of 150,300 shares, the short-interest ratio is currently 11.2 days. Currently, 5.3% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Wedbush assumed 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.

Monte Rosa Therapeutics Price Performance

NASDAQ:GLUE traded down $0.51 during trading hours on Tuesday, hitting $6.06. The company’s stock had a trading volume of 125,484 shares, compared to its average volume of 150,186. The company has a market capitalization of $303.91 million, a P/E ratio of -2.30 and a beta of 1.45. Monte Rosa Therapeutics has a twelve month low of $2.44 and a twelve month high of $8.84. The stock has a fifty day simple moving average of $6.36 and a 200-day simple moving average of $5.12.

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

Institutional Trading of Monte Rosa Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank lifted its stake in shares of Monte Rosa Therapeutics by 7.4% in the 1st quarter. Swiss National Bank now owns 27,500 shares of the company’s stock valued at $386,000 after acquiring an additional 1,900 shares during the last quarter. ProShare Advisors LLC bought a new position in Monte Rosa Therapeutics in the first quarter valued at about $144,000. JPMorgan Chase & Co. raised its position in Monte Rosa Therapeutics by 92.8% in the first quarter. JPMorgan Chase & Co. now owns 22,512 shares of the company’s stock valued at $316,000 after purchasing an additional 10,838 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Monte Rosa Therapeutics by 132.4% during the first quarter. Bank of New York Mellon Corp now owns 74,319 shares of the company’s stock valued at $1,042,000 after purchasing an additional 42,340 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new stake in shares of Monte Rosa Therapeutics during the first quarter worth about $255,000. Institutional investors and hedge funds own 79.96% of the company’s 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.