Short Interest in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Rises By 22.2%

Key Points

• Short interest rose 22.2% in March to 13,398,925 shares, equal to 18.0% of the company’s shares sold short and a short-interest ratio of 8.8 days based on average daily volume.
• Insiders sold 37,150 shares last quarter (including Edmund Dunn's 25,164 and CEO Markus Warmuth's 5,466), the company missed EPS and revenue expectations for the quarter, and analysts maintain a consensus "Moderate Buy" with a $32.80 average target while the stock trades near $18.70.

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 13,398,925 shares, a growth of 22.2% from the March 15th total of 10,964,393 shares. Currently, 18.0% of the shares of the company are sold short. Based on an average daily trading volume, of 1,520,828 shares, the short-interest ratio is currently 8.8 days.

Insider Buying and Selling at Monte Rosa Therapeutics

In other news, insider Edmund Dunn sold 25,164 shares of the company's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $18.10, for a total value of $455,468.40. Following the sale, the insider owned 22,693 shares in the company, valued at $410,743.30. This represents a 52.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Markus Warmuth sold 5,466 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $17.92, for a total value of $97,950.72. Following the sale, the chief executive officer directly owned 613,471 shares in the company, valued at approximately $10,993,400.32. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 37,150 shares of company stock worth $668,694. Insiders own 6.90% of the company's stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its holdings in Monte Rosa Therapeutics by 16.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,151 shares of the company's stock valued at $49,000 after purchasing an additional 451 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Monte Rosa Therapeutics by 32.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company's stock worth $50,000 after purchasing an additional 776 shares in the last quarter. Royce & Associates LP raised its position in shares of Monte Rosa Therapeutics by 8.3% during the 3rd quarter. Royce & Associates LP now owns 11,024 shares of the company's stock worth $82,000 after purchasing an additional 848 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Monte Rosa Therapeutics by 11.8% during the 4th quarter. ProShare Advisors LLC now owns 11,374 shares of the company's stock worth $178,000 after purchasing an additional 1,199 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Monte Rosa Therapeutics by 7.5% in the 4th quarter. MetLife Investment Management LLC now owns 26,187 shares of the company's stock valued at $411,000 after buying an additional 1,831 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GLUE has been the topic of several recent research reports. Guggenheim lowered their price objective on Monte Rosa Therapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a research report on Wednesday, March 18th. Piper Sandler reaffirmed an "overweight" rating and set a $37.00 target price (up from $27.50) on shares of Monte Rosa Therapeutics in a report on Wednesday, January 14th. Zacks Research cut shares of Monte Rosa Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 4th. Wall Street Zen downgraded shares of Monte Rosa Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, March 21st. Finally, Jefferies Financial Group restated a "buy" rating and set a $31.00 price target on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Monte Rosa Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $32.80.

Monte Rosa Therapeutics Price Performance

NASDAQ GLUE traded up $0.47 during trading hours on Thursday, reaching $18.70. The company's stock had a trading volume of 1,104,209 shares, compared to its average volume of 1,552,804. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -40.65 and a beta of 1.63. The company's 50-day moving average is $17.47 and its two-hundred day moving average is $16.27. Monte Rosa Therapeutics has a 1-year low of $3.51 and a 1-year high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its quarterly earnings data on Tuesday, March 17th. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.10). The business had revenue of $2.78 million during the quarter, compared to analysts' expectations of $17.09 million. Monte Rosa Therapeutics had a negative net margin of 31.23% and a negative return on equity of 15.12%. Equities analysts forecast that Monte Rosa Therapeutics will post -1.49 EPS for the current fiscal year.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics is a biotechnology company focused on accelerating drug discovery through the integration of single-cell genomics and artificial intelligence. Founded in 2020 and headquartered in Cambridge, Massachusetts, the company has built a proprietary platform designed to identify novel therapeutic targets and optimize lead candidates for areas of high unmet medical need. By combining cutting-edge computational methods with comprehensive cellular profiling, Monte Rosa aims to streamline the preclinical development process and uncover insights into disease biology that might otherwise remain hidden.

The company's main business activities center on using its AI-driven discovery engine to pursue programs in immuno-oncology and neuroscience.

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