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

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 value of $57,097.04. Following the transaction, the insider now owns 6,231,902 shares in the company, valued at approximately $38,388,516.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases 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 Stock Performance

Shares of GLUE stock opened at $6.08 on Friday. The stock has a fifty day simple moving average of $5.02 and a two-hundred day simple moving average of $5.27. The firm has a market capitalization of $373.13 million, a PE ratio of -2.41 and a beta of 1.44. 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 released its 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 business had revenue of $4.70 million for the quarter, compared to analysts’ expectations of $3.20 million. On average, sell-side analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in shares of Monte Rosa Therapeutics by 3.2% during the 1st 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 last quarter. Renaissance Technologies LLC raised its stake in shares of Monte Rosa Therapeutics by 108.6% in the second quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock valued at $953,000 after acquiring an additional 132,614 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of 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 acquiring an additional 81,083 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Monte Rosa Therapeutics by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock worth $11,533,000 after purchasing an additional 47,412 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in Monte Rosa Therapeutics by 77.4% during the 2nd quarter. Acadian Asset Management LLC now owns 98,557 shares of the company’s stock valued at $366,000 after purchasing an additional 43,009 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Analysts Set New Price Targets

GLUE has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their target price on 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. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price target on shares of Monte Rosa Therapeutics in a report on Friday, June 28th. Finally, Wedbush restated an “outperform” rating and issued a $11.00 price objective on shares of Monte Rosa Therapeutics in a research note on Thursday.

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.