Insider Buying: Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Director Purchases 10,000 Shares of Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Director Chandra P. Leo acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $5.84 per share, for a total transaction of $58,400.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $58,400. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Monte Rosa Therapeutics Trading Down 4.2 %

GLUE stock opened at $5.26 on Friday. The firm has a market cap of $323.54 million, a PE ratio of -2.87 and a beta of 1.50. The stock has a 50-day moving average price of $6.16 and a 200-day moving average price of $6.76. Monte Rosa Therapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, March 20th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.60. The business had revenue of $14.00 million during the quarter, compared to analyst estimates of $43.73 million. On average, analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GLUE shares. Wells Fargo & Company lowered their price target on Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Lifesci Capital began coverage on shares of Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $17.00 target price (up previously from $15.00) on shares of Monte Rosa Therapeutics in a research note on Thursday, March 20th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GLUE. Price T Rowe Associates Inc. MD increased its stake in Monte Rosa Therapeutics by 7.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,116,637 shares of the company’s stock valued at $49,391,000 after purchasing an additional 515,496 shares in the last quarter. Versant Venture Management LLC acquired a new stake in shares of Monte Rosa Therapeutics in the 4th quarter valued at about $39,231,000. Vanguard Group Inc. increased its position in Monte Rosa Therapeutics by 24.5% in the 4th quarter. Vanguard Group Inc. now owns 3,156,354 shares of the company’s stock valued at $21,905,000 after buying an additional 622,134 shares in the last quarter. BVF Inc. IL acquired a new position in Monte Rosa Therapeutics during the 4th quarter worth approximately $19,185,000. Finally, Geode Capital Management LLC raised its stake in Monte Rosa Therapeutics by 23.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock worth $5,538,000 after buying an additional 197,247 shares during the period. 79.96% of the stock is owned by institutional investors.

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.