Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Major Shareholder Sells $7,395,655.98 in Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) major shareholder Versant Venture Capital Vi, L. sold 1,132,566 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $6.53, for a total transaction of $7,395,655.98. Following the transaction, the insider now owns 5,099,336 shares in the company, valued at approximately $33,298,664.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Versant Venture Capital Vi, L. also recently made the following trade(s):

• On Friday, September 13th, Versant Venture Capital Vi, L. sold 9,269 shares of Monte Rosa Therapeutics stock. The stock was sold at an average price of $6.16, for a total transaction of $57,097.04.
• On Wednesday, September 11th, Versant Venture Capital Vi, L. sold 541,897 shares of Monte Rosa Therapeutics stock. The shares were sold at an average price of $6.00, for a total transaction of $3,251,382.00.

Monte Rosa Therapeutics Stock Down 4.4 %

NASDAQ GLUE traded down $0.26 during trading hours on Tuesday, hitting $5.69. The company’s stock had a trading volume of 322,710 shares, compared to its average volume of 212,983. Monte Rosa Therapeutics, Inc. has a twelve month low of $2.44 and a twelve month high of $8.84. The firm has a market capitalization of $287.41 million, a P/E ratio of -2.27 and a beta of 1.44. The stock has a fifty day moving average of $5.26 and a 200 day moving average of $5.25.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.07. The company had revenue of $4.70 million during the quarter, compared to analyst estimates of $3.20 million. On average, analysts predict that Monte Rosa Therapeutics, Inc. will post -1.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GLUE shares. Wedbush restated an “outperform” rating and issued a $11.00 price objective on shares of Monte Rosa Therapeutics in a research report on Thursday, September 12th. Piper Sandler restated an “overweight” rating and set a $16.00 target price on shares of Monte Rosa Therapeutics in a research report on Friday, June 28th. Finally, Wells Fargo & Company decreased their price target on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, August 12th.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Monte Rosa Therapeutics by 3.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,096,787 shares of the company’s stock worth $35,933,000 after buying an additional 155,880 shares during the period. Renaissance Technologies LLC boosted its stake in Monte Rosa Therapeutics by 108.6% during the 2nd quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock worth $953,000 after acquiring an additional 132,614 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Monte Rosa Therapeutics by 111.6% during the second quarter. Dimensional Fund Advisors LP now owns 153,758 shares of the company’s stock valued at $575,000 after purchasing an additional 81,083 shares during the period. Vanguard Group Inc. increased its stake in Monte Rosa Therapeutics by 3.0% in the first quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock valued at $11,533,000 after purchasing an additional 47,412 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Monte Rosa Therapeutics by 77.4% in the second quarter. Acadian Asset Management LLC now owns 98,557 shares of the company’s stock worth $366,000 after purchasing an additional 43,009 shares during the period. Institutional investors and hedge funds 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.