Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 108.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 254,714 shares of the company's stock after buying an additional 132,614 shares during the quarter. Renaissance Technologies LLC owned about 0.50% of Monte Rosa Therapeutics worth $953,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GLUE. Meeder Asset Management Inc. purchased a new position in shares of Monte Rosa Therapeutics in the 2nd quarter valued at approximately $38,000. EntryPoint Capital LLC purchased a new position in shares of Monte Rosa Therapeutics in the 1st quarter valued at approximately $112,000. American Century Companies Inc. raised its position in shares of Monte Rosa Therapeutics by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 49,410 shares of the company's stock valued at $185,000 after purchasing an additional 15,562 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Monte Rosa Therapeutics by 77.4% in the 2nd quarter. Acadian Asset Management LLC now owns 98,557 shares of the company's stock valued at $366,000 after purchasing an additional 43,009 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Monte Rosa Therapeutics by 16.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 109,864 shares of the company's stock valued at $411,000 after purchasing an additional 15,845 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on GLUE shares. Wedbush reaffirmed an "outperform" rating and issued a $11.00 price objective on shares of Monte Rosa Therapeutics in a research report on Thursday, September 12th. Piper Sandler reissued an "overweight" rating and set a $16.00 price target on shares of Monte Rosa Therapeutics in a research report on Friday, June 28th. Finally, Wells Fargo & Company reduced their price target on shares of Monte Rosa Therapeutics from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Monday, August 12th.

Monte Rosa Therapeutics Stock Performance

Shares of NASDAQ GLUE traded up $0.02 during trading on Monday, hitting $5.11. 87,041 shares of the company were exchanged, compared to its average volume of 212,735. Monte Rosa Therapeutics, Inc. has a 12-month low of $2.44 and a 12-month high of $8.84. The company has a fifty day moving average price of $5.40 and a 200-day moving average price of $5.17. The firm has a market capitalization of $258.12 million, a PE ratio of -2.00 and a beta of 1.43.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.07. The company had revenue of $4.70 million for the quarter, compared to analysts' expectations of $3.20 million. Research analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.89 earnings per share for the current fiscal year.

Insider Transactions at Monte Rosa Therapeutics

In other news, major shareholder Versant Venture Capital Vi, L. sold 1,132,566 shares of Monte Rosa Therapeutics stock in a transaction on Friday, September 20th. The stock was sold at an average price of $6.53, for a total transaction of $7,395,655.98. Following the transaction, the insider now owns 5,099,336 shares in the company, valued at $33,298,664.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 1,683,732 shares of company stock worth $10,704,135 in the last quarter. Company insiders own 6.50% of the company's stock.

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.