Barclays PLC Purchases 43,499 Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Barclays PLC increased its holdings in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 395.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,508 shares of the company’s stock after purchasing an additional 43,499 shares during the quarter. Barclays PLC’s holdings in Monte Rosa Therapeutics were worth $289,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Monte Rosa Therapeutics by 23.3% in 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 worth $128,000 after purchasing an additional 8,500 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Monte Rosa Therapeutics by 108.6% in the 2nd 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 last quarter. The Manufacturers Life Insurance Company increased its position in shares of Monte Rosa Therapeutics by 14.8% during the third quarter. The Manufacturers Life Insurance Company now owns 117,877 shares of the company’s stock worth $625,000 after buying an additional 15,168 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Monte Rosa Therapeutics during the third quarter worth $77,000. Institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Stock Down 1.7 %

Monte Rosa Therapeutics stock opened at $5.66 on Tuesday. The company has a market capitalization of $347.75 million, a PE ratio of -3.09 and a beta of 1.47. The firm’s fifty day moving average is $7.68 and its 200 day moving average is $6.35. Monte Rosa Therapeutics, Inc. has a 12-month low of $3.21 and a 12-month high of $12.40.

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 the consensus estimate of ($0.45) by $0.16. The company had revenue of $9.22 million for the quarter, compared to analyst estimates of $4.54 million. Sell-side analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

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 on Monday, October 28th. The shares were sold at an average price of $9.66, for a total value of $869,303.40. Following the transaction, the insider now directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GLUE. Wedbush reaffirmed an “outperform” rating and set a $15.00 price target on shares of Monte Rosa Therapeutics in a research report on Thursday, November 7th. Wells Fargo & Company downgraded 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 research note on Thursday, December 19th.

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.