MetLife Investment Management LLC Buys New Holdings in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

MetLife Investment Management LLC purchased a new position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,855 shares of the company’s stock, valued at approximately $132,000.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in shares of Monte Rosa Therapeutics during the second quarter worth $38,000. SG Americas Securities LLC purchased a new stake in Monte Rosa Therapeutics in the 3rd quarter worth $55,000. Intech Investment Management LLC bought a new position in shares of Monte Rosa Therapeutics during the 3rd quarter valued at about $77,000. American Century Companies Inc. boosted its holdings in shares of Monte Rosa Therapeutics by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock valued at $185,000 after purchasing an additional 15,562 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Monte Rosa Therapeutics by 77.4% during the second quarter. Acadian Asset Management LLC now owns 98,557 shares of the company’s stock valued at $366,000 after purchasing an additional 43,009 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Monte Rosa Therapeutics Trading Up 8.4 %

Shares of NASDAQ GLUE opened at $10.20 on Tuesday. Monte Rosa Therapeutics, Inc. has a 12-month low of $3.21 and a 12-month high of $12.40. The firm’s 50-day moving average price is $7.56 and its 200-day moving average price is $5.72. The stock has a market capitalization of $626.69 million, a price-to-earnings ratio of -5.57 and a beta of 1.37.

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

Insider Activity at Monte Rosa Therapeutics

In other news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.16, for a total value of $57,097.04. Following the sale, the insider now directly owns 6,231,902 shares in the company, valued at approximately $38,388,516.32. This represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 1,773,722 shares of company stock worth $11,573,438. Company insiders own 6.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GLUE shares. 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. Wells Fargo & Company lowered their target price on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, August 12th.

About Monte Rosa Therapeutics

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.