Geode Capital Management LLC Purchases 197,247 Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Geode Capital Management LLC lifted its stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 23.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,044,689 shares of the company's stock after acquiring an additional 197,247 shares during the period. Geode Capital Management LLC owned approximately 1.70% of Monte Rosa Therapeutics worth $5,538,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Monte Rosa Therapeutics by 54.5% during the third 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 buying an additional 8,500 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Monte Rosa Therapeutics during the second quarter worth about $38,000. SG Americas Securities LLC bought a new position in shares of Monte Rosa Therapeutics in the third quarter worth approximately $55,000. Intech Investment Management LLC purchased a new stake in Monte Rosa Therapeutics in the third quarter valued at approximately $77,000. Finally, The Manufacturers Life Insurance Company lifted its position in 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 valued at $625,000 after purchasing an additional 15,168 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Insiders Place Their Bets

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of the company'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 completion of the transaction, the insider now directly owns 2,007,948 shares in the company, valued at approximately $19,396,777.68. This represents a 4.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.50% of the company's stock.

Monte Rosa Therapeutics Trading Up 0.8 %

Shares of NASDAQ:GLUE traded up $0.06 on Friday, reaching $7.17. 597,174 shares of the company traded hands, compared to its average volume of 1,477,353. The stock has a market capitalization of $440.52 million, a P/E ratio of -3.92 and a beta of 1.37. The business's 50-day simple moving average is $8.40 and its 200 day simple moving average is $6.17. Monte Rosa Therapeutics, Inc. has a 52 week low of $3.21 and a 52 week high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.16. The company had revenue of $9.22 million for the quarter, compared to the consensus estimate of $4.54 million. Sell-side analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on GLUE shares. Wedbush reissued an "outperform" rating and issued a $15.00 price target on shares of Monte Rosa Therapeutics in a report on Thursday, November 7th. Wells Fargo & Company cut Monte Rosa Therapeutics from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $14.00 to $11.00 in a research note on Thursday, December 19th.

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.