Investors Buy Large Volume of Monte Rosa Therapeutics Call Options (NASDAQ:GLUE)

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) was the target of some unusual options trading activity on Monday. Traders purchased 2,011 call options on the stock. This represents an increase of 369% compared to the average daily volume of 429 call options.

Institutional Trading of Monte Rosa Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP bought a new stake in Monte Rosa Therapeutics during the second quarter worth approximately $30,000. SG Americas Securities LLC grew its position in Monte Rosa Therapeutics by 18.5% in the first quarter. SG Americas Securities LLC now owns 20,468 shares of the company’s stock worth $337,000 after buying an additional 3,189 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Monte Rosa Therapeutics in the third quarter worth approximately $48,000. Strs Ohio increased its holdings in shares of Monte Rosa Therapeutics by 18.3% in the first quarter. Strs Ohio now owns 42,700 shares of the company’s stock valued at $702,000 after buying an additional 6,600 shares in the last quarter. Finally, E Fund Management Co. Ltd. bought a new position in shares of Monte Rosa Therapeutics in the second quarter valued at $200,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on GLUE. Weiss Ratings lowered shares of Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Zacks Research raised Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. UBS Group restated a “buy” rating and issued a $19.00 target price (up from $17.00) on shares of Monte Rosa Therapeutics in a research report on Sunday, October 11th. TD Cowen upgraded Monte Rosa Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. Finally, Wells Fargo & Company decreased their price target on Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Monte Rosa Therapeutics Stock Performance

NASDAQ GLUE traded up $0.21 on Monday, reaching $9.95. The company’s stock had a trading volume of 243,483 shares, compared to its average volume of 1,359,728. Monte Rosa Therapeutics has a twelve month low of $8.94 and a twelve month high of $25.77. The stock has a market cap of $848.61 million, a PE ratio of -5.64 and a beta of 1.37. The firm’s 50 day moving average is $12.97 and its two-hundred day moving average is $17.33.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.05). The business had revenue of $8.97 million for the quarter, compared to the consensus estimate of $12.91 million. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. Equities research analysts anticipate that Monte Rosa Therapeutics will post -1.23 EPS for the current fiscal year.

Monte Rosa Therapeutics Company Profile

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary molecular glue degrader platform to identify small molecules that recruit targeted proteins to the cell’s natural protein-disposal machinery, potentially addressing proteins that have been difficult to treat with conventional drugs.

Monte Rosa’s pipeline is centered primarily on autoimmune and inflammatory diseases, as well as other serious conditions.