Monte Rosa Therapeutics (NASDAQ:GLUE) Trading 6.3% Higher – What’s Next?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)’s share price traded up 6.3% on Tuesday . The company traded as high as $8.99 and last traded at $8.99. 392,766 shares traded hands during trading, a decline of 48% from the average session volume of 757,043 shares. The stock had previously closed at $8.46.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company reduced their price target on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Wedbush restated an “outperform” rating and set a $15.00 price objective on shares of Monte Rosa Therapeutics in a report on Thursday, November 7th.

Monte Rosa Therapeutics Stock Performance

The stock has a market capitalization of $559.72 million, a price-to-earnings ratio of -4.98 and a beta of 1.30. The firm has a fifty day moving average of $6.86 and a 200-day moving average of $5.42.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.16. The company had revenue of $9.22 million during the quarter, compared to analyst estimates of $4.54 million. On average, analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Insider Activity at Monte Rosa Therapeutics

In other news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $6.16, for a total transaction of $57,097.04. Following the completion of the sale, the insider now directly owns 6,231,902 shares in the company, valued at $38,388,516.32. This trade represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 1,773,722 shares of company stock worth $11,573,438. Corporate insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 155,880 shares during the last quarter. Renaissance Technologies LLC lifted 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 purchasing an additional 132,614 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Monte Rosa Therapeutics by 46.0% during the second quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock worth $185,000 after purchasing an additional 15,562 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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, Vanguard Group Inc. lifted its holdings in Monte Rosa Therapeutics by 3.0% in 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. Institutional investors 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.