Monte Rosa Therapeutics (NASDAQ:GLUE) Insider Sharon Townson Sells 3,000 Shares

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUEGet Free Report) insider Sharon Townson sold 3,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $20.00, for a total value of $60,000.00. Following the sale, the insider directly owned 67,845 shares in the company, valued at $1,356,900. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Sharon Townson also recently made the following trade(s):

  • On Wednesday, June 17th, Sharon Townson sold 3,000 shares of Monte Rosa Therapeutics stock. The shares were sold at an average price of $19.00, for a total transaction of $57,000.00.

Monte Rosa Therapeutics Stock Up 3.9%

NASDAQ:GLUE opened at $21.66 on Friday. Monte Rosa Therapeutics, Inc. has a 52 week low of $4.12 and a 52 week high of $25.77. The stock’s 50-day moving average price is $18.88 and its 200-day moving average price is $18.61. The stock has a market capitalization of $1.83 billion, a PE ratio of -14.64 and a beta of 1.60.

Monte Rosa Therapeutics (NASDAQ:GLUEGet Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The company had revenue of $4.21 million during the quarter, compared to analysts’ expectations of $10.95 million. Monte Rosa Therapeutics had a negative return on equity of 40.99% and a negative net margin of 302.69%. Sell-side analysts expect that Monte Rosa Therapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

Institutional Trading of Monte Rosa Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Seven Fleet Capital Management LP lifted its stake in Monte Rosa Therapeutics by 463.3% during the first quarter. Seven Fleet Capital Management LP now owns 22,530 shares of the company’s stock worth $371,000 after purchasing an additional 18,530 shares in the last quarter. Bank of America Corp DE boosted its holdings in Monte Rosa Therapeutics by 73.3% during the 1st quarter. Bank of America Corp DE now owns 387,542 shares of the company’s stock valued at $6,375,000 after acquiring an additional 163,971 shares during the period. Janus Henderson Group PLC acquired a new position in Monte Rosa Therapeutics in the 1st quarter valued at about $11,294,000. Empowered Funds LLC lifted its position in shares of Monte Rosa Therapeutics by 9.8% during the first quarter. Empowered Funds LLC now owns 305,398 shares of the company’s stock worth $5,024,000 after purchasing an additional 27,321 shares in the last quarter. Finally, Exome Asset Management LLC acquired a new stake in shares of Monte Rosa Therapeutics during the first quarter worth about $2,953,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GLUE. Wells Fargo & Company decreased their price objective on Monte Rosa Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. JPMorgan Chase & Co. upped their target price on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Weiss Ratings raised shares of Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen lowered Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, Guggenheim cut their price target on Monte Rosa Therapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.50.

Check Out Our Latest Stock Analysis on GLUE

Monte Rosa Therapeutics Company Profile

(Get Free Report)

Monte Rosa Therapeutics is a biotechnology company focused on accelerating drug discovery through the integration of single-cell genomics and artificial intelligence. Founded in 2020 and headquartered in Cambridge, Massachusetts, the company has built a proprietary platform designed to identify novel therapeutic targets and optimize lead candidates for areas of high unmet medical need. By combining cutting-edge computational methods with comprehensive cellular profiling, Monte Rosa aims to streamline the preclinical development process and uncover insights into disease biology that might otherwise remain hidden.

The company’s main business activities center on using its AI-driven discovery engine to pursue programs in immuno-oncology and neuroscience.

Further Reading

Insider Buying and Selling by Quarter for Monte Rosa Therapeutics (NASDAQ:GLUE)

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