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 stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $5.84 per share, with a total value of $58,400.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $58,400. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Monte Rosa Therapeutics Stock Performance

NASDAQ:GLUE opened at $5.67 on Wednesday. Monte Rosa Therapeutics, Inc. has a 52-week low of $3.21 and a 52-week high of $12.40. The company has a market cap of $348.35 million, a P/E ratio of -3.10 and a beta of 1.50. The stock’s 50-day simple moving average is $6.19 and its 200 day simple moving average is $6.78.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings data on Thursday, March 20th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.60. The company had revenue of $14.00 million for the quarter, compared to the consensus estimate of $43.73 million. As a group, equities analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GLUE. Lifesci Capital assumed coverage on 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. Wells Fargo & Company reduced their price target on Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Finally, Wedbush reissued an “outperform” rating and issued a $17.00 price objective (up previously from $15.00) on shares of Monte Rosa Therapeutics in a research report on Thursday, March 20th.

Institutional Trading of Monte Rosa Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in shares of Monte Rosa Therapeutics by 192.8% during the 4th 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 last quarter. GAMMA Investing LLC increased its position in Monte Rosa Therapeutics by 10,665.5% during the fourth quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock worth $41,000 after buying an additional 5,866 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Monte Rosa Therapeutics during the fourth quarter worth approximately $43,000. Virtus ETF Advisers LLC bought a new stake in Monte Rosa Therapeutics in the fourth quarter valued at approximately $63,000. Finally, Focus Partners Wealth bought a new position in shares of Monte Rosa Therapeutics during the 4th quarter worth approximately $77,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

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.