Insider Selling: 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 business’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 $33,298,664.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares 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 value 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 value of $3,251,382.00.

Monte Rosa Therapeutics Price Performance

GLUE stock opened at $5.36 on Friday. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $2.44 and a fifty-two week high of $8.84. The stock has a market capitalization of $270.74 million, a price-to-earnings ratio of -2.13 and a beta of 1.44. The business’s fifty day moving average price is $5.31 and its two-hundred day moving average price is $5.25.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.07. The business had revenue of $4.70 million for the quarter, compared to the consensus estimate of $3.20 million. Research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.89 EPS for the current year.

Wall Street Analyst Weigh In

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

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 the business. Price T Rowe Associates Inc. MD increased its stake in 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 acquiring an additional 155,880 shares during the period. Vanguard Group Inc. increased its position in shares of Monte Rosa Therapeutics by 3.0% in the first quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock worth $11,533,000 after purchasing an additional 47,412 shares during the period. Renaissance Technologies LLC raised its stake in Monte Rosa Therapeutics by 108.6% in the second quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock valued at $953,000 after purchasing an additional 132,614 shares in the last quarter. Dimensional Fund Advisors LP lifted its position 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 worth $575,000 after purchasing an additional 81,083 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Monte Rosa Therapeutics by 16.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 109,864 shares of the company’s stock valued at $411,000 after buying an additional 15,845 shares during the period. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.