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

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 1,870,000 shares, a growth of 11.3% from the March 31st total of 1,680,000 shares. Based on an average daily trading volume, of 131,800 shares, the days-to-cover ratio is presently 14.2 days. Currently, 5.9% of the company's stock are sold short.

Monte Rosa Therapeutics Trading Up 11.7 %

NASDAQ GLUE traded up $0.62 on Wednesday, hitting $5.94. 156,285 shares of the stock traded hands, compared to its average volume of 145,318. The stock has a 50-day moving average of $6.46 and a 200 day moving average of $5.18. Monte Rosa Therapeutics has a twelve month low of $2.44 and a twelve month high of $8.84. The company has a market capitalization of $298.96 million, a P/E ratio of -2.25 and a beta of 1.45.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.01). As a group, equities research analysts expect that Monte Rosa Therapeutics will post -2.25 earnings per share for the current year.

Institutional Trading of Monte Rosa Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of GLUE. Exchange Traded Concepts LLC grew its position in shares of Monte Rosa Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 23,327 shares of the company's stock valued at $132,000 after buying an additional 5,915 shares during the last quarter. Corton Capital Inc. bought a new position in Monte Rosa Therapeutics in the third quarter worth about $69,000. TD Asset Management Inc boosted its stake in Monte Rosa Therapeutics by 65.6% in the third quarter. TD Asset Management Inc now owns 193,168 shares of the company's stock valued at $925,000 after acquiring an additional 76,550 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Monte Rosa Therapeutics during the third quarter valued at approximately $66,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wedbush started coverage on shares of Monte Rosa Therapeutics in a research note on Thursday, February 15th. They set 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.