Insider Selling: Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Major Shareholder Sells 1,132,566 Shares of Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) major shareholder Versant Venture Capital Vi, L. sold 1,132,566 shares of the firm’s stock in a transaction 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 directly owns 5,099,336 shares of the company’s stock, valued at $33,298,664.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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 shares were 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 Stock Down 3.2 %

NASDAQ:GLUE opened at $5.51 on Thursday. Monte Rosa Therapeutics, Inc. has a 12-month low of $2.44 and a 12-month high of $8.84. The firm has a market capitalization of $278.32 million, a P/E ratio of -2.19 and a beta of 1.44. The stock’s fifty day simple moving average is $5.29 and its 200-day simple moving average is $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 (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.07. The company had revenue of $4.70 million during the quarter, compared to the consensus estimate of $3.20 million. As a group, equities research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GLUE. Wedbush reiterated 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 reiterated an “overweight” rating and issued a $16.00 price objective on shares of Monte Rosa Therapeutics in a research report on Friday, June 28th. Finally, Wells Fargo & Company reduced their price target on 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.

Institutional Trading of Monte Rosa Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised 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 buying an additional 155,880 shares during the period. Vanguard Group Inc. raised its stake in Monte Rosa Therapeutics by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock worth $11,533,000 after buying an additional 47,412 shares during the period. Renaissance Technologies LLC raised 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 buying an additional 132,614 shares during the period. Dimensional Fund Advisors LP raised its stake in Monte Rosa Therapeutics by 111.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 153,758 shares of the company’s stock worth $575,000 after buying an additional 81,083 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Monte Rosa Therapeutics by 16.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 109,864 shares of the company’s stock worth $411,000 after buying an additional 15,845 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.