Exchange Traded Concepts LLC Has $158,000 Stock Position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Exchange Traded Concepts LLC decreased its stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 16.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,798 shares of the company’s stock after selling 5,888 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Monte Rosa Therapeutics were worth $158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GLUE. Meeder Asset Management Inc. acquired a new stake in Monte Rosa Therapeutics during the 2nd quarter worth about $38,000. SG Americas Securities LLC acquired a new stake in Monte Rosa Therapeutics during the 3rd quarter worth about $55,000. EntryPoint Capital LLC acquired a new stake in Monte Rosa Therapeutics during the 1st quarter worth about $112,000. American Century Companies Inc. boosted its position in Monte Rosa Therapeutics by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock worth $185,000 after acquiring an additional 15,562 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Monte Rosa Therapeutics by 92.5% during the 1st 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 period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Monte Rosa Therapeutics Price Performance

GLUE opened at $5.45 on Tuesday. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $2.44 and a fifty-two week high of $8.84. The business has a 50-day moving average of $5.63 and a 200-day moving average of $5.01. The company has a market capitalization of $275.29 million, a PE ratio of -2.16 and a beta of 1.43.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted 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 firm had revenue of $4.70 million for the quarter, compared to analysts’ expectations of $3.20 million. On average, equities research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.89 earnings per share for the current fiscal year.

Insider Activity at Monte Rosa Therapeutics

In related news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.16, for a total value of $57,097.04. Following the transaction, the insider now directly owns 6,231,902 shares of the company’s stock, valued at approximately $38,388,516.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 1,683,732 shares of company stock valued at $10,704,135. Corporate insiders own 6.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GLUE. Wells Fargo & Company decreased their price objective on 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. Wedbush reaffirmed an “outperform” rating and set a $11.00 price target on shares of Monte Rosa Therapeutics in a research note on Thursday, September 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price target on shares of Monte Rosa Therapeutics in a research note on Friday, June 28th.

Monte Rosa Therapeutics 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.