Traders Purchase High Volume of Monte Rosa Therapeutics Call Options (NASDAQ:GLUE)

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) saw some unusual options trading on Monday. Investors bought 1,500 call options on the company. This represents an increase of approximately 2,532% compared to the typical volume of 57 call options.

Analyst Upgrades and Downgrades

GLUE has been the topic of several recent analyst reports. Wedbush reissued an “outperform” rating and set a $11.00 target price on shares of Monte Rosa Therapeutics in a research note on Thursday, September 12th. 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 research note on Monday, August 12th.

Insider Activity

In other news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.16, for a total transaction of $57,097.04. Following the completion of the sale, the insider now owns 6,231,902 shares in the company, valued at approximately $38,388,516.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 1,773,722 shares of company stock worth $11,573,438. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in 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 valued at $35,933,000 after acquiring an additional 155,880 shares during the period. Vanguard Group Inc. boosted its holdings 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 valued at $11,533,000 after acquiring an additional 47,412 shares during the period. Renaissance Technologies LLC grew its position in Monte Rosa Therapeutics by 108.6% during the second quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock worth $953,000 after buying an additional 132,614 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Monte Rosa Therapeutics by 111.6% during the second quarter. Dimensional Fund Advisors LP now owns 153,758 shares of the company’s stock worth $575,000 after buying an additional 81,083 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Monte Rosa Therapeutics by 16.9% during the second quarter. Bank of New York Mellon Corp now owns 109,864 shares of the company’s stock worth $411,000 after buying an additional 15,845 shares in the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Monte Rosa Therapeutics Stock Performance

Shares of NASDAQ GLUE traded down $0.15 during mid-day trading on Wednesday, reaching $9.22. The company had a trading volume of 1,847,944 shares, compared to its average volume of 724,566. Monte Rosa Therapeutics has a twelve month low of $2.91 and a twelve month high of $12.40. The stock has a market capitalization of $465.72 million, a PE ratio of -3.72 and a beta of 1.43. The stock’s 50 day moving average is $5.81 and its 200-day moving average is $4.97.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.07. The company had revenue of $4.70 million during the quarter, compared to analyst estimates of $3.20 million. On average, sell-side analysts anticipate that Monte Rosa Therapeutics will post -1.89 EPS for the current year.

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.