State Street Corp Raises Stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

State Street Corp grew its holdings in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 8.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 687,577 shares of the company’s stock after purchasing an additional 51,493 shares during the period. State Street Corp owned approximately 1.12% of Monte Rosa Therapeutics worth $3,644,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Monte Rosa Therapeutics by 54.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,100 shares of the company’s stock valued at $128,000 after buying an additional 8,500 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Monte Rosa Therapeutics by 108.6% during the second quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock valued at $953,000 after buying an additional 132,614 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Monte Rosa Therapeutics by 14.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,877 shares of the company’s stock valued at $625,000 after acquiring an additional 15,168 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Monte Rosa Therapeutics during the 3rd quarter valued at about $77,000. Finally, American Century Companies Inc. grew 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 worth $185,000 after acquiring an additional 15,562 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $9.66, for a total value of $869,303.40. Following the completion of the transaction, the insider now owns 2,007,948 shares of the company’s stock, valued at approximately $19,396,777.68. This trade represents a 4.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.50% of the company’s stock.

Monte Rosa Therapeutics Trading Down 0.6 %

Shares of GLUE opened at $7.02 on Tuesday. Monte Rosa Therapeutics, Inc. has a 12-month low of $3.21 and a 12-month high of $12.40. The company has a market capitalization of $431.29 million, a PE ratio of -3.84 and a beta of 1.37. The business’s 50 day moving average is $8.21 and its 200 day moving average is $6.05.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.16. The firm had revenue of $9.22 million for the quarter, compared to analysts’ expectations of $4.54 million. Equities research analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wells Fargo & Company downgraded Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $14.00 to $11.00 in a research note on Thursday, December 19th. Wedbush reiterated an “outperform” rating and set a $15.00 price target on shares of Monte Rosa Therapeutics in a research note on Thursday, November 7th.

Monte Rosa Therapeutics 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.