Insider Selling: Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Major Shareholder Sells 89,990 Shares of Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $9.66, for a total transaction of $869,303.40. Following the transaction, the insider now directly owns 2,007,948 shares of the company’s stock, valued at approximately $19,396,777.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Versant Venture Capital Vi, L. also recently made the following trade(s):

• On Friday, September 20th, Versant Venture Capital Vi, L. sold 1,132,566 shares of Monte Rosa Therapeutics stock. The shares were sold at an average price of $6.53, for a total transaction of $7,395,655.98.
• 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 transaction 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 transaction of $3,251,382.00.

Monte Rosa Therapeutics Stock Down 1.6 %

Shares of NASDAQ GLUE traded down $0.15 during trading on Wednesday, hitting $9.22. The company had a trading volume of 1,845,902 shares, compared to its average volume of 724,565. The stock has a fifty day simple moving average of $5.81 and a two-hundred day simple moving average of $4.97. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $2.91 and a fifty-two week high of $12.40. The firm has a market capitalization of $465.72 million, a price-to-earnings ratio of -3.72 and a beta of 1.43.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its earnings results on Thursday, August 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.07. The company had revenue of $4.70 million during the quarter, compared to analyst estimates of $3.20 million. On average, analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.89 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Trading of Monte Rosa Therapeutics

Several institutional investors have recently modified their holdings of GLUE. Vanguard Group Inc. boosted its position in Monte Rosa Therapeutics by 3.0% during the first quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock worth $11,533,000 after acquiring an additional 47,412 shares during the last quarter. Acadian Asset Management LLC boosted its position in Monte Rosa Therapeutics by 92.5% during the first quarter. Acadian Asset Management LLC now owns 55,548 shares of the company’s stock worth $390,000 after acquiring an additional 26,687 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Monte Rosa Therapeutics during the first quarter worth about $112,000. Price T Rowe Associates Inc. MD boosted its position in Monte Rosa Therapeutics by 3.2% during the first 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 last quarter. Finally, Bank of New York Mellon Corp boosted its position in Monte Rosa Therapeutics by 16.9% during the second quarter. Bank of New York Mellon Corp now owns 109,864 shares of the company’s stock worth $411,000 after acquiring an additional 15,845 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

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.