Monte Rosa Therapeutics (NASDAQ:GLUE) Shares Gap Up – Still a Buy?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) gapped up prior to trading on Monday . The stock had previously closed at $8.49, but opened at $8.90. Monte Rosa Therapeutics shares last traded at $8.90, with a volume of 8,330 shares trading hands.

Wall Street Analyst Weigh In

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

Monte Rosa Therapeutics Stock Up 1.7 %

The stock has a 50 day moving average of $6.81 and a two-hundred day moving average of $5.39.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, November 7th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.16. The company had revenue of $9.22 million for the quarter, compared to analysts’ expectations of $4.54 million. As a group, research analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.16, for a total transaction of $57,097.04. Following the completion of the transaction, the insider now directly owns 6,231,902 shares in the company, valued at approximately $38,388,516.32. This trade represents a 0.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 1,773,722 shares of company stock worth $11,573,438 in the last quarter. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GLUE. Price T Rowe Associates Inc. MD boosted its holdings 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 purchasing an additional 155,880 shares during the last quarter. Vanguard Group Inc. lifted its position in 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. Geode Capital Management LLC boosted its stake in Monte Rosa Therapeutics by 23.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock worth $5,538,000 after buying an additional 197,247 shares during the last quarter. Vestal Point Capital LP grew its holdings in Monte Rosa Therapeutics by 4.5% in the 3rd quarter. Vestal Point Capital LP now owns 930,000 shares of the company’s stock valued at $4,929,000 after buying an additional 40,000 shares during the period. Finally, State Street Corp increased its stake in shares of Monte Rosa Therapeutics by 8.1% during the 3rd quarter. State Street Corp now owns 687,577 shares of the company’s stock valued at $3,644,000 after acquiring an additional 51,493 shares during the last quarter. Institutional investors and hedge funds 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.