Insider Selling: Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Major Shareholder Sells $3,251,382.00 in Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) major shareholder Versant Venture Capital Vi, L. sold 541,897 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $6.00, for a total transaction of $3,251,382.00. Following the completion of the sale, the insider now owns 6,257,218 shares of the company’s stock, valued at approximately $37,543,308. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares 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 stock was sold at an average price of $6.16, for a total transaction of $57,097.04.

Monte Rosa Therapeutics Stock Performance

Shares of NASDAQ:GLUE opened at $6.08 on Monday. The company’s 50-day moving average is $5.02 and its 200 day moving average is $5.25. The company has a market capitalization of $307.11 million, a P/E ratio of -2.41 and a beta of 1.44. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $2.44 and a fifty-two week high of $8.84.

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, topping analysts’ consensus estimates of ($0.50) by $0.07. The company had revenue of $4.70 million during the quarter, compared to analysts’ expectations of $3.20 million. As a group, research analysts predict that Monte Rosa Therapeutics, Inc. will post -1.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GLUE shares. Wells Fargo & Company reduced their target price on shares of Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Piper Sandler reiterated an “overweight” rating and issued a $16.00 target price on shares of Monte Rosa Therapeutics in a research note on Friday, June 28th. Finally, Wedbush reiterated an “outperform” rating and issued a $11.00 target price on shares of Monte Rosa Therapeutics in a research note on Thursday.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several institutional investors have recently added to or reduced their stakes in GLUE. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $35,933,000 after purchasing an additional 155,880 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Monte Rosa Therapeutics by 108.6% during the second quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock valued at $953,000 after purchasing an additional 132,614 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 valued at $575,000 after purchasing an additional 81,083 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 valued at $11,533,000 after purchasing an additional 47,412 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Monte Rosa Therapeutics by 77.4% during the second quarter. Acadian Asset Management LLC now owns 98,557 shares of the company’s stock valued at $366,000 after purchasing an additional 43,009 shares during the last quarter. 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.