Wells Fargo & Company MN Buys 47,952 Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Wells Fargo & Company MN boosted its position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 215.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,162 shares of the company’s stock after buying an additional 47,952 shares during the quarter. Wells Fargo & Company MN owned approximately 0.11% of Monte Rosa Therapeutics worth $487,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GLUE. Geode Capital Management LLC lifted its stake in shares of Monte Rosa Therapeutics by 23.3% during the third quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock valued at $5,538,000 after acquiring an additional 197,247 shares during the period. Barclays PLC raised its holdings in Monte Rosa Therapeutics by 395.1% during the 3rd quarter. Barclays PLC now owns 54,508 shares of the company’s stock worth $289,000 after purchasing an additional 43,499 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Monte Rosa Therapeutics by 38.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company’s stock valued at $98,000 after purchasing an additional 5,125 shares during the period. Franklin Resources Inc. bought a new position in shares of Monte Rosa Therapeutics in the 4th quarter valued at about $191,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Monte Rosa Therapeutics by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 370,472 shares of the company’s stock worth $2,571,000 after buying an additional 23,974 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Monte Rosa Therapeutics Stock Performance

Shares of NASDAQ GLUE opened at $4.97 on Friday. Monte Rosa Therapeutics, Inc. has a 52-week low of $3.21 and a 52-week high of $12.40. The stock has a market cap of $305.70 million, a P/E ratio of -2.72 and a beta of 1.53. The firm has a 50 day moving average price of $5.20 and a 200 day moving average price of $6.57.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results on Thursday, March 20th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.60. The firm had revenue of $14.00 million during the quarter, compared to analyst estimates of $43.73 million. Analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GLUE. Wells Fargo & Company cut their price objective on shares of Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Lifesci Capital initiated coverage on Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 price target on the stock. Finally, Wedbush restated an “outperform” rating and issued a $17.00 price target (up from $15.00) on shares of Monte Rosa Therapeutics in a research report on Thursday, March 20th.

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, Director Chandra P. Leo acquired 10,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were acquired at an average price of $5.84 per share, for a total transaction of $58,400.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $58,400. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.50% of the company’s stock.

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.