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

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

Monte Rosa Therapeutics Trading Down 3.2 %

Monte Rosa Therapeutics stock opened at $5.49 on Thursday. Monte Rosa Therapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $12.40. The company has a fifty day simple moving average of $6.17 and a 200 day simple moving average of $6.77. The company has a market cap of $337.69 million, a P/E ratio of -3.00 and a beta of 1.50.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings data on Thursday, March 20th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of ($0.37) by $0.60. The company had revenue of $14.00 million during the quarter, compared to analyst estimates of $43.73 million. On average, equities research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in Monte Rosa Therapeutics by 192.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company’s stock valued at $38,000 after purchasing an additional 3,584 shares during the last quarter. GAMMA Investing LLC grew its stake in Monte Rosa Therapeutics by 10,665.5% in the 4th quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock valued at $41,000 after buying an additional 5,866 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Monte Rosa Therapeutics in the 4th quarter valued at about $43,000. Virtus ETF Advisers LLC acquired a new stake in Monte Rosa Therapeutics during the fourth quarter worth approximately $63,000. Finally, Intech Investment Management LLC bought a new stake in shares of Monte Rosa Therapeutics during the third quarter worth approximately $77,000. Institutional investors own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

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