State Street Corp Purchases 51,493 Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

State Street Corp grew its holdings in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 8.1% during the third quarter, HoldingsChannel.com reports. The firm owned 687,577 shares of the company’s stock after acquiring an additional 51,493 shares during the quarter. State Street Corp’s holdings in Monte Rosa Therapeutics were worth $3,644,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Ikarian Capital LLC purchased a new position in Monte Rosa Therapeutics during the 3rd quarter worth $1,651,000. Renaissance Technologies LLC lifted 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. Dimensional Fund Advisors LP boosted its holdings in shares of Monte Rosa Therapeutics by 111.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 153,758 shares of the company’s stock valued at $575,000 after buying an additional 81,083 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Monte Rosa Therapeutics by 77.4% during the 2nd quarter. Acadian Asset Management LLC now owns 98,557 shares of the company’s stock worth $366,000 after acquiring an additional 43,009 shares in the last quarter. Finally, Vestal Point Capital LP grew 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 worth $4,929,000 after purchasing an additional 40,000 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GLUE. Wedbush reaffirmed an “outperform” rating and set a $15.00 target price on shares of Monte Rosa Therapeutics in a research report on Thursday, November 7th. Wells Fargo & Company lowered Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $14.00 to $11.00 in a research note on Thursday, December 19th.

Insider Buying and Selling

In other news, major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of Monte Rosa Therapeutics 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. The trade was a 4.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.50% of the stock is currently owned by company insiders.

Monte Rosa Therapeutics Trading Down 0.6 %

Shares of GLUE stock opened at $7.02 on Tuesday. The stock has a 50 day moving average of $8.21 and a 200 day moving average of $6.05. Monte Rosa Therapeutics, Inc. has a twelve month low of $3.21 and a twelve month high of $12.40. The stock has a market cap of $431.29 million, a P/E ratio of -3.84 and a beta of 1.37.

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

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.