Insider Buying: Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Director Buys 10,000 Shares of Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Director Chandra P. Leo bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $5.84 per share, for a total transaction of $58,400.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $58,400. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Monte Rosa Therapeutics Price Performance

GLUE stock traded down $0.16 during trading on Tuesday, hitting $5.67. 681,570 shares of the company traded hands, compared to its average volume of 938,440. Monte Rosa Therapeutics, Inc. has a 1 year low of $3.21 and a 1 year high of $12.40. The company has a market cap of $348.35 million, a PE ratio of -3.10 and a beta of 1.50. The stock’s 50-day simple moving average is $6.18 and its 200 day simple moving average is $6.78.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its earnings results on Thursday, March 20th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.60. The firm had revenue of $14.00 million for the quarter, compared to analysts’ expectations of $43.73 million. Research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Versant Venture Management LLC acquired a new position in Monte Rosa Therapeutics in the 4th quarter worth about $39,231,000. BVF Inc. IL purchased a new stake in shares of Monte Rosa Therapeutics in the fourth quarter valued at approximately $19,185,000. Vanguard Group Inc. raised its stake in shares of Monte Rosa Therapeutics by 24.5% during the 4th quarter. Vanguard Group Inc. now owns 3,156,354 shares of the company’s stock worth $21,905,000 after buying an additional 622,134 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Monte Rosa Therapeutics by 7.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,116,637 shares of the company’s stock worth $49,391,000 after buying an additional 515,496 shares during the period. Finally, Norges Bank purchased a new position in shares of Monte Rosa Therapeutics during the 4th quarter valued at approximately $3,094,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Lifesci Capital started coverage on Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $17.00 price target (up previously from $15.00) on shares of Monte Rosa Therapeutics in a report on Thursday, March 20th. Finally, Wells Fargo & Company decreased their price objective on shares of Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Friday.

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.