Monte Rosa Therapeutics (NASDAQ:GLUE) Shares Down 7% – Should You Sell?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) fell 7% during trading on Wednesday . The company traded as low as $9.10 and last traded at $9.17. 335,799 shares traded hands during trading, a decline of 57% from the average session volume of 775,025 shares. The stock had previously closed at $9.86.

Wall Street Analysts Forecast Growth

GLUE has been the topic of a number of research reports. Wedbush restated an “outperform” rating and issued a $15.00 price objective on shares of Monte Rosa Therapeutics in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price objective on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th.

Monte Rosa Therapeutics Stock Down 6.3 %

The company has a 50-day moving average price of $7.23 and a two-hundred day moving average price of $5.58. The stock has a market capitalization of $567.71 million, a P/E ratio of -4.98 and a beta of 1.37.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.16. The company had revenue of $9.22 million for the quarter, compared to the consensus estimate of $4.54 million. On average, sell-side analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Insider Transactions at Monte Rosa Therapeutics

In related news, major shareholder Versant Venture Capital Vi, L. sold 541,897 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $6.00, for a total transaction of $3,251,382.00. Following the transaction, the insider now owns 6,257,218 shares of the company’s stock, valued at approximately $37,543,308. This trade represents a 7.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,773,722 shares of company stock valued at $11,573,438 in the last quarter. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new position in shares of Monte Rosa Therapeutics in the second quarter valued at about $38,000. SG Americas Securities LLC purchased a new position in Monte Rosa Therapeutics during the 3rd quarter valued at about $55,000. Intech Investment Management LLC purchased a new position in Monte Rosa Therapeutics during the 3rd quarter valued at about $77,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Monte Rosa Therapeutics by 54.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,100 shares of the company’s stock valued at $128,000 after purchasing an additional 8,500 shares during the period. Finally, MetLife Investment Management LLC purchased a new position in Monte Rosa Therapeutics during the 3rd quarter valued at about $132,000. Institutional investors own 79.96% of the company’s stock.

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.