Chandra P. Leo Purchases 10,000 Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) 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 stock was bought at an average cost of $5.84 per share, with a total value of $58,400.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $58,400. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Monte Rosa Therapeutics Stock Performance

Shares of GLUE stock opened at $5.49 on Thursday. The firm’s 50 day moving average price is $6.17 and its two-hundred day moving average price is $6.77. Monte Rosa Therapeutics, Inc. has a 52-week low of $3.21 and a 52-week high of $12.40. The stock has a market cap of $337.69 million, a PE 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 analysts’ consensus estimates of ($0.37) by $0.60. The company had revenue of $14.00 million during the quarter, compared to the consensus estimate of $43.73 million. As a group, sell-side analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GLUE shares. Lifesci Capital initiated coverage on shares of Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 price objective for the company. Wells Fargo & Company dropped their target price 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 reaffirmed an “outperform” rating and set a $17.00 price target (up previously from $15.00) on shares of Monte Rosa Therapeutics in a research note on Thursday, March 20th.

Institutional Trading of Monte Rosa Therapeutics

Hedge funds have recently modified their holdings of the company. Versant Venture Management LLC acquired a new position in Monte Rosa Therapeutics during the fourth quarter valued at approximately $39,231,000. BVF Inc. IL bought a new position in shares of Monte Rosa Therapeutics during the fourth quarter worth $19,185,000. Vanguard Group Inc. grew its holdings in shares of Monte Rosa Therapeutics by 24.5% in the 4th quarter. Vanguard Group Inc. now owns 3,156,354 shares of the company’s stock valued at $21,905,000 after buying an additional 622,134 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Monte Rosa Therapeutics by 7.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,116,637 shares of the company’s stock valued at $49,391,000 after buying an additional 515,496 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Monte Rosa Therapeutics in the 4th quarter valued at $3,094,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.