Monte Rosa Therapeutics (NASDAQ:GLUE) Shares Down 6% – Should You Sell?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) shares fell 6% during trading on Wednesday . The company traded as low as $8.82 and last traded at $8.87. 463,765 shares traded hands during trading, a decline of 43% from the average session volume of 809,012 shares. The stock had previously closed at $9.44.

Analyst Upgrades and Downgrades

Separately, Wedbush restated an “outperform” rating and issued a $15.00 target price on shares of Monte Rosa Therapeutics in a report on Thursday, November 7th.

Monte Rosa Therapeutics Trading Down 3.0 %

The business’s 50-day moving average is $7.76 and its two-hundred day moving average is $5.79.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.16. The business had revenue of $9.22 million during the quarter, compared to analysts’ expectations of $4.54 million. On average, research analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Versant Venture Capital Vi, L. sold 1,132,566 shares of Monte Rosa Therapeutics stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $6.53, for a total value of $7,395,655.98. Following the sale, the insider now owns 5,099,336 shares of the company’s stock, valued at approximately $33,298,664.08. The trade was a 18.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.50% of the company’s stock.

Institutional Trading of Monte Rosa Therapeutics

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its stake in shares of 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 period. Intech Investment Management LLC purchased a new stake in Monte Rosa Therapeutics during the third quarter valued at about $77,000. American Century Companies Inc. lifted its holdings in Monte Rosa Therapeutics by 46.0% during the second quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock valued at $185,000 after purchasing an additional 15,562 shares during the last quarter. Dimensional Fund Advisors LP boosted 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, SG Americas Securities LLC purchased a new position in shares of Monte Rosa Therapeutics in the third quarter worth about $55,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

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.