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

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.16, for a total transaction of $57,097.04. Following the transaction, the insider now directly owns 6,231,902 shares in the company, valued at approximately $38,388,516.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 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 transaction of $3,251,382.00.

Monte Rosa Therapeutics Stock Up 2.0 %

NASDAQ:GLUE traded up $0.12 during trading hours on Friday, reaching $6.08. 208,278 shares of the company’s stock were exchanged, compared to its average volume of 194,297. The company has a market capitalization of $373.13 million, a P/E ratio of -2.41 and a beta of 1.44. Monte Rosa Therapeutics, Inc. has a 12 month low of $2.44 and a 12 month high of $8.84. The business’s 50-day simple moving average is $5.02 and its two-hundred day simple moving average is $5.27.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.07. The company had revenue of $4.70 million for the quarter, compared to the consensus estimate of $3.20 million. As a group, sell-side analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in Monte Rosa Therapeutics by 108.6% during the 2nd quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock worth $953,000 after buying an additional 132,614 shares during the period. Dimensional Fund Advisors LP raised its holdings 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 valued at $575,000 after acquiring an additional 81,083 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter valued at approximately $38,000. American Century Companies Inc. lifted its position in shares of 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. Finally, Acadian Asset Management LLC boosted its stake in Monte Rosa Therapeutics by 77.4% in the 2nd quarter. Acadian Asset Management LLC now owns 98,557 shares of the company’s stock worth $366,000 after purchasing an additional 43,009 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on GLUE. Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of Monte Rosa Therapeutics in a research report on Thursday. Piper Sandler restated an “overweight” rating and issued a $16.00 price objective on shares of Monte Rosa Therapeutics in a report on Friday, June 28th. Finally, Wells Fargo & Company lowered their target price on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, August 12th.

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.