Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Major Shareholder Versant Venture Capital Vi, L. Sells 89,990 Shares

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of Monte Rosa Therapeutics 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 $19,396,777.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major 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 stock was 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 Price Performance

NASDAQ:GLUE opened at $8.90 on Friday. The firm has a 50-day moving average of $5.97 and a 200-day moving average of $5.04. The company has a market cap of $546.19 million, a PE ratio of -3.97 and a beta of 1.43. Monte Rosa Therapeutics, Inc. has a one year low of $2.91 and a one year high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its earnings results on Thursday, August 8th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.07. The business had revenue of $4.70 million for the quarter, compared to the consensus estimate of $3.20 million. On average, equities research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position 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 worth $35,933,000 after acquiring an additional 155,880 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 in the last quarter. Renaissance Technologies LLC increased its position in shares of Monte Rosa Therapeutics by 108.6% during the second quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock worth $953,000 after acquiring an additional 132,614 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 worth $575,000 after purchasing an additional 81,083 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings 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 purchasing an additional 15,845 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wells Fargo & Company decreased 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 note on Monday, August 12th. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target on shares of Monte Rosa Therapeutics in a research note on Thursday, September 12th.

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.