Monte Rosa Therapeutics Target of Unusually Large Options Trading (NASDAQ:GLUE)

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the recipient of unusually large options trading activity on Monday. Traders purchased 1,500 call options on the stock. This represents an increase of approximately 2,532% compared to the typical volume of 57 call options.

Analyst Ratings Changes

GLUE has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of Monte Rosa Therapeutics in a report on Thursday, September 12th.

Insider Transactions at Monte Rosa Therapeutics

In other news, major shareholder Versant Venture Capital Vi, L. sold 1,132,566 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $6.53, for a total value of $7,395,655.98. Following the completion of the sale, the insider now owns 5,099,336 shares in the company, valued at $33,298,664.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 1,683,732 shares of company stock worth $10,704,135 in the last quarter. 6.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Monte Rosa Therapeutics

Institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new stake in shares of Monte Rosa Therapeutics during the second quarter valued at approximately $38,000. SG Americas Securities LLC purchased a new stake in Monte Rosa Therapeutics in the third quarter worth $55,000. EntryPoint Capital LLC purchased a new stake in Monte Rosa Therapeutics in the first quarter worth $112,000. American Century Companies Inc. lifted its stake in Monte Rosa Therapeutics by 46.0% in the second quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock worth $185,000 after acquiring an additional 15,562 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Monte Rosa Therapeutics by 92.5% in the first quarter. Acadian Asset Management LLC now owns 55,548 shares of the company’s stock worth $390,000 after acquiring an additional 26,687 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Stock Up 124.5 %

Shares of GLUE stock traded up $6.09 during trading on Monday, hitting $10.98. The company had a trading volume of 75,698,607 shares, compared to its average volume of 582,283. The stock’s 50-day moving average is $5.65 and its two-hundred day moving average is $4.94. The stock has a market capitalization of $554.62 million, a price-to-earnings ratio of -1.94 and a beta of 1.43. Monte Rosa Therapeutics has a 52 week low of $2.77 and a 52 week high of $12.15.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.07. The business had revenue of $4.70 million for the quarter, compared to the consensus estimate of $3.20 million. On average, research analysts predict that Monte Rosa Therapeutics will post -1.89 EPS for the current fiscal year.

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.