Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 23.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,044,689 shares of the company’s stock after purchasing an additional 197,247 shares during the quarter. Geode Capital Management LLC owned approximately 1.70% of Monte Rosa Therapeutics worth $5,538,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GLUE. Vestal Point Capital LP increased its holdings in Monte Rosa Therapeutics by 4.5% in the third quarter. Vestal Point Capital LP now owns 930,000 shares of the company’s stock valued at $4,929,000 after buying an additional 40,000 shares in the last quarter. State Street Corp increased its stake in shares of Monte Rosa Therapeutics by 8.1% in the 3rd quarter. State Street Corp now owns 687,577 shares of the company’s stock valued at $3,644,000 after purchasing an additional 51,493 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Monte Rosa Therapeutics by 11.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 346,498 shares of the company’s stock worth $1,836,000 after purchasing an additional 34,698 shares during the period. Ikarian Capital LLC purchased a new position in Monte Rosa Therapeutics during the third quarter worth approximately $1,651,000. Finally, Renaissance Technologies LLC grew its holdings in Monte Rosa Therapeutics by 108.6% in the second quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock valued at $953,000 after purchasing an additional 132,614 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GLUE has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $14.00 to $11.00 in a research report on Thursday, December 19th. Wedbush reiterated an “outperform” rating and issued a $15.00 target price on shares of Monte Rosa Therapeutics in a research report on Thursday, November 7th.

Monte Rosa Therapeutics Price Performance

Shares of NASDAQ:GLUE opened at $7.17 on Friday. The business’s 50 day moving average price is $8.40 and its 200-day moving average price is $6.15. Monte Rosa Therapeutics, Inc. has a 1 year low of $3.21 and a 1 year high of $12.40. The firm has a market capitalization of $440.52 million, a PE ratio of -3.92 and a beta of 1.37.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.16. The business had revenue of $9.22 million for the quarter, compared to analysts’ expectations of $4.54 million. As a group, analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of Monte Rosa Therapeutics stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $9.66, for a total transaction of $869,303.40. Following the transaction, the insider now directly owns 2,007,948 shares of the company’s stock, valued at $19,396,777.68. The trade was a 4.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.50% of the stock is owned by insiders.

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.