Geode Capital Management LLC Increases Stock Position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Geode Capital Management LLC grew its stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 23.3% during the third quarter, Holdings Channel.com reports. The fund owned 1,044,689 shares of the company’s stock after acquiring an additional 197,247 shares during the period. Geode Capital Management LLC’s holdings in Monte Rosa Therapeutics were worth $5,538,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GLUE. Meeder Asset Management Inc. purchased a new stake in Monte Rosa Therapeutics in the second quarter valued at approximately $38,000. SG Americas Securities LLC acquired a new position in Monte Rosa Therapeutics during the 3rd quarter worth about $55,000. Intech Investment Management LLC purchased a new position in Monte Rosa Therapeutics during the 3rd quarter valued at about $77,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Monte Rosa Therapeutics by 54.5% in the 3rd 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 acquiring an additional 8,500 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in Monte Rosa Therapeutics during the third quarter worth about $132,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Monte Rosa Therapeutics Stock Up 0.8 %

Shares of NASDAQ:GLUE opened at $7.17 on Friday. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $12.40. The firm’s 50 day moving average price is $8.40 and its 200 day moving average price is $6.15. The stock has a market cap of $440.52 million, a price-to-earnings ratio of -3.92 and a beta of 1.37.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced 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 during the quarter, compared to analyst estimates of $4.54 million. On average, equities analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GLUE. Wells Fargo & Company cut shares of Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $14.00 to $11.00 in a report on Thursday, December 19th. Wedbush restated an “outperform” rating and issued a $15.00 price target on shares of Monte Rosa Therapeutics in a research note on Thursday, November 7th.

Insiders Place Their Bets

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $9.66, for a total transaction of $869,303.40. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.50% of the stock is owned by company insiders.

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.