Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Director Acquires $58,400.00 in Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Director Chandra P. Leo bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average price of $5.84 per share, with a total value of $58,400.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $58,400. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Monte Rosa Therapeutics Stock Down 4.2 %

Shares of NASDAQ:GLUE opened at $5.26 on Friday. Monte Rosa Therapeutics, Inc. has a 12-month low of $3.21 and a 12-month high of $12.40. The business has a 50 day moving average of $6.16 and a 200-day moving average of $6.76. The stock has a market cap of $323.54 million, a PE ratio of -2.87 and a beta of 1.50.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released 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 firm had revenue of $14.00 million during the quarter, compared to the consensus estimate of $43.73 million. Equities research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Monte Rosa Therapeutics by 9.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,701 shares of the company’s stock worth $172,000 after purchasing an additional 2,084 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Monte Rosa Therapeutics by 192.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company’s stock worth $38,000 after purchasing an additional 3,584 shares during the period. Bank of New York Mellon Corp raised its position in shares of Monte Rosa Therapeutics by 2.2% in the fourth quarter. Bank of New York Mellon Corp now owns 170,312 shares of the company’s stock valued at $1,182,000 after buying an additional 3,619 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Monte Rosa Therapeutics by 2.2% in the fourth quarter. Wellington Management Group LLP now owns 221,741 shares of the company’s stock valued at $1,539,000 after buying an additional 4,740 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Monte Rosa Therapeutics by 38.2% during the third quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company’s stock worth $98,000 after buying an additional 5,125 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.