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

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report) was the recipient of unusually large options trading on Monday. Stock traders acquired 1,500 call options on the company. This represents an increase of 2,532% compared to the typical volume of 57 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GLUE. Wells Fargo & Company cut their price objective on Monte Rosa Therapeutics from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Monday, August 12th. 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.

Monte Rosa Therapeutics Trading Up 93.9 %

NASDAQ:GLUE traded up $4.59 during trading hours on Monday, hitting $9.48. 94,921,454 shares of the stock traded hands, compared to its average volume of 693,919. Monte Rosa Therapeutics has a fifty-two week low of $2.77 and a fifty-two week high of $12.40. The firm has a 50 day moving average price of $5.74 and a 200 day moving average price of $4.96. The firm has a market cap of $478.85 million, a price-to-earnings ratio of -3.76 and a beta of 1.43.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.07. The firm had revenue of $4.70 million for the quarter, compared to the consensus estimate of $3.20 million. Research analysts predict that Monte Rosa Therapeutics will post -1.89 EPS for the current year.

Insiders Place Their Bets

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 1,132,566 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was 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 directly owns 5,099,336 shares in the company, valued at $33,298,664.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 1,683,732 shares of company stock worth $10,704,135 over the last ninety days. Company insiders own 6.50% of the company's stock.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new stake in shares of Monte Rosa Therapeutics in the second quarter valued at about $38,000. SG Americas Securities LLC bought a new stake in shares of Monte Rosa Therapeutics in the third quarter valued at about $55,000. EntryPoint Capital LLC bought a new stake in shares of Monte Rosa Therapeutics in the first quarter valued at about $112,000. American Century Companies Inc. lifted its stake in shares of Monte Rosa Therapeutics by 46.0% in the second quarter. American Century Companies Inc. now owns 49,410 shares of the company's stock valued at $185,000 after buying an additional 15,562 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of Monte Rosa Therapeutics by 77.4% in the second quarter. Acadian Asset Management LLC now owns 98,557 shares of the company's stock valued at $366,000 after buying an additional 43,009 shares during the period. Institutional investors own 79.96% of the company's stock.

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.