The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Monte Rosa Therapeutics Inc shares valued at $869,240 were sold by Versant Venture Capital VI, L. on Oct 28 ’24. At $9.66 per share, Versant Venture Capital VI, L. sold 89,990 shares. The insider’s holdings dropped to 2,007,948 shares worth approximately $17.07 million following the completion of this transaction.
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Also, Versant Venture Capital VI, L. sold 67,905 shares, netting a total of over 621,801 in proceeds. Following the sale of shares at $9.16 each, the insider now holds 1,573,453 shares.
Before that, Wallace Owen B. had added 20,000 shares to its account. In a trade valued at $240,000, the Officer bought Monte Rosa Therapeutics Inc shares for $12.00 each.
As published in their initiating research note from Wedbush on February 15, 2024, Monte Rosa Therapeutics Inc [GLUE] has been an Outperform and the price target has been revised to $11. Analysts at Wells Fargo upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in early January. As of October 13, 2022, UBS has initiated its “Buy” rating for GLUE. Earlier on August 15, 2022, Jefferies initiated its rating. Their recommendation was “a Buy” for GLUE stock.
Analyzing GLUE Stock Performance
During the last five days, there has been a surge of approximately 74.54%. Over the course of the year, Monte Rosa Therapeutics Inc shares have jumped approximately 50.44%. Shares of the company reached a 52-week high of $12.40 on 10/28/24 and a 52-week low of $3.21 on 06/28/24. A 50-day SMA is recorded $5.91, while a 200-day SMA reached $5.36. Nevertheless, trading volume fell to 1.28 million shares from 1.85 million shares the previous day.
Support And Resistance Levels for Monte Rosa Therapeutics Inc (GLUE)
According to the 24-hour chart, there is a support level at 8.15, which, if violated, would cause prices to drop to 7.81. In the upper region, resistance lies at 9.19. The next price resistance is at 9.89. RSI (Relative Strength Index) is 69.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.71, which suggests the price will increase in the coming days. Percent R is at 51.05%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
