Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Major Shareholder Versant Venture Capital Vi, L. Sells 541,897 Shares of Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) major shareholder Versant Venture Capital Vi, L. sold 541,897 shares of Monte Rosa Therapeutics 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 transaction, the insider now directly owns 6,257,218 shares of the company’s stock, valued at approximately $37,543,308. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock 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 value of $57,097.04.

Monte Rosa Therapeutics Price Performance

GLUE stock opened at $6.08 on Friday. Monte Rosa Therapeutics, Inc. has a 1 year low of $2.44 and a 1 year high of $8.84. The stock has a market capitalization of $373.13 million, a PE ratio of -2.41 and a beta of 1.44. The company’s 50-day moving average is $5.02 and its 200-day moving average is $5.27.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.07. The firm had revenue of $4.70 million during the quarter, compared to the consensus estimate of $3.20 million. On average, analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.89 earnings per share for the current fiscal year.

Institutional Trading of Monte Rosa Therapeutics

Several hedge funds have recently bought and sold shares of GLUE. Meeder Asset Management Inc. bought a new position in shares of Monte Rosa Therapeutics in the second quarter valued at $38,000. American Century Companies Inc. lifted its position in Monte Rosa Therapeutics by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock valued at $185,000 after acquiring an additional 15,562 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Monte Rosa Therapeutics by 16.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 109,864 shares of the company’s stock valued at $411,000 after purchasing an additional 15,845 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Monte Rosa Therapeutics during the 1st quarter worth approximately $112,000. Finally, Acadian Asset Management LLC raised its stake in shares of Monte Rosa Therapeutics by 92.5% in the first quarter. Acadian Asset Management LLC now owns 55,548 shares of the company’s stock worth $390,000 after purchasing an additional 26,687 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GLUE. Piper Sandler reissued an “overweight” rating and issued a $16.00 price objective on shares of Monte Rosa Therapeutics in a research note on Friday, June 28th. Wells Fargo & Company dropped 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. Finally, Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Monte Rosa Therapeutics in a research report on Thursday.

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.