Monte Rosa Therapeutics (NASDAQ:GLUE) Shares Down 7% – Should You Sell?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)’s stock price traded down 7% during mid-day trading on Wednesday . The company traded as low as $9.10 and last traded at $9.17. 335,799 shares were traded during trading, a decline of 57% from the average session volume of 775,025 shares. The stock had previously closed at $9.86.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wedbush restated an “outperform” rating and set a $15.00 price target on shares of Monte Rosa Therapeutics in a report on Thursday, November 7th. Wells Fargo & Company reduced their target price on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, August 12th.

Monte Rosa Therapeutics Stock Performance

The business has a 50-day moving average price of $7.23 and a 200 day moving average price of $5.58. The stock has a market capitalization of $567.71 million, a P/E ratio of -4.98 and a beta of 1.37.

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

Insider Transactions at Monte Rosa Therapeutics

In related news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.16, for a total value of $57,097.04. Following the transaction, the insider now directly owns 6,231,902 shares of the company’s stock, valued at approximately $38,388,516.32. This 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 hyperlink. Insiders have sold a total of 1,773,722 shares of company stock valued at $11,573,438 in the last ninety days. 6.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its position in Monte Rosa Therapeutics by 395.1% in the 3rd quarter. Barclays PLC now owns 54,508 shares of the company’s stock valued at $289,000 after acquiring an additional 43,499 shares in the last quarter. Geode Capital Management LLC lifted its position 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 valued at $5,538,000 after acquiring an additional 197,247 shares in the last quarter. Wellington Management Group LLP lifted its position in Monte Rosa Therapeutics by 30.2% in the 3rd quarter. Wellington Management Group LLP now owns 217,001 shares of the company’s stock valued at $1,150,000 after acquiring an additional 50,330 shares in the last quarter. State Street Corp lifted its position in Monte Rosa Therapeutics by 8.1% in 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 in the last quarter. Finally, Ikarian Capital LLC bought a new position in shares of Monte Rosa Therapeutics during the 3rd quarter valued at $1,651,000. 79.96% of the stock is owned by institutional investors.

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.