Traders Purchase High Volume of Monte Rosa Therapeutics Call Options (NASDAQ:GLUE)

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the recipient of some unusual options trading on Monday. Stock traders acquired 1,500 call options on the stock. This is an increase of 2,532% compared to the average daily volume of 57 call options.

Insider Activity at Monte Rosa Therapeutics

In related news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.16, for a total value of $57,097.04. Following the completion of the transaction, the insider now directly owns 6,231,902 shares of the company’s stock, valued at $38,388,516.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 1,773,722 shares of company stock valued at $11,573,438 in the last ninety days. Corporate insiders own 6.50% of the company’s stock.

Institutional Trading of Monte Rosa Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of GLUE. Price T Rowe Associates Inc. MD boosted its position in shares of Monte Rosa Therapeutics by 3.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,096,787 shares of the company’s stock worth $35,933,000 after buying an additional 155,880 shares during the period. Renaissance Technologies LLC boosted its position in shares of Monte Rosa Therapeutics by 108.6% during the second 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 boosted its position 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 worth $575,000 after buying an additional 81,083 shares during the period. Vanguard Group Inc. boosted its position in shares of Monte Rosa Therapeutics by 3.0% during the first quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock worth $11,533,000 after buying an additional 47,412 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Monte Rosa Therapeutics by 77.4% in the second 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. 79.96% of the stock is owned by institutional investors.

Monte Rosa Therapeutics Trading Down 1.6 %

Shares of GLUE traded down $0.15 during midday trading on Wednesday, reaching $9.22. 1,847,944 shares of the company were exchanged, compared to its average volume of 724,566. The stock has a 50-day moving average price of $5.81 and a 200-day moving average price of $4.97. The company has a market cap of $465.72 million, a price-to-earnings ratio of -3.72 and a beta of 1.43. Monte Rosa Therapeutics has a 1-year low of $2.91 and a 1-year high of $12.40.

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

Analyst Ratings Changes

Several research firms have weighed in on GLUE. Wells Fargo & Company dropped their price target on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of Monte Rosa Therapeutics in a research report on Thursday, September 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.