Monte Rosa Therapeutics Target of Unusually Large Options Trading (NASDAQ:GLUE)

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) saw unusually large options trading on Monday. Investors bought 1,500 call options on the company. This is an increase of approximately 2,532% compared to the average daily volume of 57 call options.

Analyst Upgrades and Downgrades

GLUE has been the subject of several recent research reports. Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of Monte Rosa Therapeutics in a research report on Thursday, September 12th. Wells Fargo & Company lowered their price objective on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, August 12th.

Insider Buying and Selling

In related news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.16, for a total value of $57,097.04. Following the completion of the sale, the insider now owns 6,231,902 shares of the company’s stock, valued at $38,388,516.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 1,683,732 shares of company stock valued at $10,704,135 over the last quarter. 6.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new stake in Monte Rosa Therapeutics in the 2nd quarter worth about $38,000. SG Americas Securities LLC bought a new stake in Monte Rosa Therapeutics in the 3rd quarter worth about $55,000. EntryPoint Capital LLC bought a new stake in Monte Rosa Therapeutics in the 1st quarter worth about $112,000. American Century Companies Inc. increased its holdings in Monte Rosa Therapeutics by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock worth $185,000 after buying an additional 15,562 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Monte Rosa Therapeutics by 77.4% in the 2nd quarter. Acadian Asset Management LLC now owns 98,557 shares of the company’s stock worth $366,000 after buying an additional 43,009 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

Monte Rosa Therapeutics Stock Up 124.5 %

Shares of NASDAQ:GLUE traded up $6.09 on Monday, hitting $10.98. 75,698,607 shares of the company traded hands, compared to its average volume of 582,283. Monte Rosa Therapeutics has a 52 week low of $2.77 and a 52 week high of $12.15. The stock has a 50 day simple moving average of $5.65 and a 200-day simple moving average of $4.94. The company has a market cap of $554.62 million, a PE ratio of -1.94 and a beta of 1.43.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.07. The company had revenue of $4.70 million for the quarter, compared to the consensus estimate of $3.20 million. As a group, sell-side analysts anticipate that Monte Rosa Therapeutics will post -1.89 earnings per share for the current year.

About Monte Rosa Therapeutics

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.