Insider Selling: Monte Rosa Therapeutics (NASDAQ:GLUE) Insider Sells 25,164 Shares of Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) insider Edmund Dunn sold 25,164 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $18.10, for a total transaction of $455,468.40. Following the completion of the transaction, the insider directly owned 22,693 shares of the company’s stock, valued at approximately $410,743.30. The trade was a 52.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Edmund Dunn also recently made the following trade(s):

• On Monday, March 2nd, Edmund Dunn sold 536 shares of Monte Rosa Therapeutics stock. The shares were sold at an average price of $17.50, for a total value of $9,380.00.

Monte Rosa Therapeutics Stock Performance

Shares of NASDAQ GLUE traded up $0.75 during mid-day trading on Monday, hitting $18.50. 1,304,172 shares of the stock traded hands, compared to its average volume of 1,867,459. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 57.81 and a beta of 1.63. The stock has a fifty day moving average price of $19.88 and a 200-day moving average price of $13.68. Monte Rosa Therapeutics, Inc. has a 52 week low of $3.50 and a 52 week high of $25.77.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new position in shares of Monte Rosa Therapeutics in the 1st quarter worth $1,065,000. Goldman Sachs Group Inc. boosted its position in Monte Rosa Therapeutics by 122.7% in the first quarter. Goldman Sachs Group Inc. now owns 356,112 shares of the company’s stock worth $1,652,000 after purchasing an additional 196,238 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Monte Rosa Therapeutics in the first quarter worth about $76,000. Brighton Jones LLC bought a new stake in shares of Monte Rosa Therapeutics during the 2nd quarter valued at about $48,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Monte Rosa Therapeutics during the 2nd quarter valued at about $89,000. Institutional investors own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GLUE. Weiss Ratings restated a “sell (d)” rating on shares of Monte Rosa Therapeutics in a report on Monday, December 29th. Wells Fargo & Company upped their price target on Monte Rosa Therapeutics from $22.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Wedbush reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. Piper Sandler reissued an “overweight” rating and issued a $37.00 target price (up from $27.50) on shares of Monte Rosa Therapeutics in a report on Wednesday, January 14th. Finally, Guggenheim increased their target price on Monte Rosa Therapeutics from $16.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.33.

About Monte Rosa Therapeutics

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.