Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Major Shareholder Versant Venture Capital Vi, L. Sells 9,269 Shares

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.16, for a total transaction of $57,097.04. Following the completion of the transaction, the insider now directly owns 6,231,902 shares of the company’s stock, valued at approximately $38,388,516.32. The sale was disclosed in a legal filing with the SEC, which is available at 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 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 Trading Up 2.0 %

Shares of GLUE stock opened at $6.08 on Monday. The company has a market cap of $307.11 million, a PE ratio of -2.41 and a beta of 1.44. The company’s fifty day simple moving average is $5.02 and its 200-day simple moving average is $5.25. Monte Rosa Therapeutics, Inc. has a 52 week low of $2.44 and a 52 week high of $8.84.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.07. The company had revenue of $4.70 million for the quarter, compared to analyst estimates of $3.20 million. Equities research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GLUE shares. Wells Fargo & Company dropped their price target on shares of 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. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 target price on shares of Monte Rosa Therapeutics in a research report 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 report on Thursday.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of GLUE. Price T Rowe Associates Inc. MD raised its stake in shares of 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 period. Vanguard Group Inc. grew its holdings 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 valued at $11,533,000 after purchasing an additional 47,412 shares in the last quarter. Renaissance Technologies LLC increased 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 lifted its holdings in Monte Rosa Therapeutics by 111.6% in 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Monte Rosa Therapeutics by 16.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 109,864 shares of the company’s stock valued at $411,000 after buying an additional 15,845 shares during the last quarter. Hedge funds and other institutional investors 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.