Insider Selling: Monte Rosa Therapeutics (NASDAQ:GLUE) Insider Sells $57,000.00 in Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) insider Sharon Townson sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.00, for a total value of $57,000.00. Following the transaction, the insider directly owned 67,845 shares in the company, valued at $1,289,055. This represents a 4.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Monte Rosa Therapeutics Trading Down 0.5%

Shares of GLUE stock traded down $0.09 on Thursday, hitting $18.32. 2,507,725 shares of the stock were exchanged, compared to its average volume of 1,308,502. The firm’s 50 day moving average is $18.60 and its two-hundred day moving average is $18.47. Monte Rosa Therapeutics, Inc. has a one year low of $4.12 and a one year high of $25.77. The firm has a market capitalization of $1.55 billion, a PE ratio of -12.38 and a beta of 1.60.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The firm had revenue of $4.21 million during the quarter, compared to the consensus estimate of $10.95 million. Monte Rosa Therapeutics had a negative net margin of 302.69% and a negative return on equity of 40.99%. On average, sell-side analysts expect that Monte Rosa Therapeutics, Inc. will post -1.23 earnings per share for the current year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of GLUE. Vanguard Group Inc. boosted its position in shares of Monte Rosa Therapeutics by 8.6% in the fourth quarter. Vanguard Group Inc. now owns 3,246,500 shares of the company’s stock valued at $50,905,000 after acquiring an additional 257,547 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Monte Rosa Therapeutics during the 4th quarter worth approximately $778,000. Strs Ohio purchased a new stake in Monte Rosa Therapeutics in the 4th quarter worth approximately $566,000. CWM LLC lifted its stake in Monte Rosa Therapeutics by 13.6% in the 4th quarter. CWM LLC now owns 29,444 shares of the company’s stock worth $462,000 after purchasing an additional 3,536 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Monte Rosa Therapeutics by 32.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company’s stock valued at $50,000 after purchasing an additional 776 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GLUE has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Guggenheim reduced their price objective on shares of Monte Rosa Therapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Wall Street Zen cut shares of Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. JPMorgan Chase & Co. increased their target price on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Wells Fargo & Company reduced their price target on Monte Rosa Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Monte Rosa Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics is a biotechnology company focused on accelerating drug discovery through the integration of single-cell genomics and artificial intelligence. Founded in 2020 and headquartered in Cambridge, Massachusetts, the company has built a proprietary platform designed to identify novel therapeutic targets and optimize lead candidates for areas of high unmet medical need. By combining cutting-edge computational methods with comprehensive cellular profiling, Monte Rosa aims to streamline the preclinical development process and uncover insights into disease biology that might otherwise remain hidden.

The company’s main business activities center on using its AI-driven discovery engine to pursue programs in immuno-oncology and neuroscience.