Fmr LLC Purchases 6,439 Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Fmr LLC increased its stake in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 0.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,101,413 shares of the company’s stock after purchasing an additional 6,439 shares during the quarter. Fmr LLC owned 0.08% of Monte Rosa Therapeutics worth $27,037,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GLUE. Meeder Asset Management Inc. bought a new position in Monte Rosa Therapeutics during the 2nd quarter worth approximately $38,000. SG Americas Securities LLC bought a new position in Monte Rosa Therapeutics during the 3rd quarter worth approximately $55,000. Intech Investment Management LLC bought a new position in Monte Rosa Therapeutics during the 3rd quarter worth approximately $77,000. American Century Companies Inc. grew its position in Monte Rosa Therapeutics by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock worth $185,000 after acquiring an additional 15,562 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Monte Rosa Therapeutics by 77.4% in the 2nd quarter. Acadian Asset Management LLC now owns 98,557 shares of the company’s stock worth $366,000 after buying an additional 43,009 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $15.00 price objective on shares of Monte Rosa Therapeutics in a report on Thursday, November 7th. Wells Fargo & Company dropped their price objective on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, August 12th.

Insider Activity

In other 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 stock was sold at an average price of $9.66, for a total value of $869,303.40. Following the completion of the transaction, the insider now owns 2,007,948 shares in the company, valued at $19,396,777.68. This trade represents a 4.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 1,773,722 shares of company stock worth $11,573,438 in the last quarter. 6.50% of the stock is owned by company insiders.

Monte Rosa Therapeutics Stock Performance

NASDAQ GLUE opened at $10.20 on Tuesday. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $12.40. The stock has a 50 day simple moving average of $7.56 and a two-hundred day simple moving average of $5.72. The stock has a market cap of $626.69 million, a P/E ratio of -5.57 and a beta of 1.37.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released 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 firm had revenue of $9.22 million during the quarter, compared to analysts’ expectations of $4.54 million. Sell-side analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

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.