Norges Bank Takes $3.09 Million Position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Norges Bank bought a new stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 445,868 shares of the company's stock, valued at approximately $3,094,000. Norges Bank owned 0.73% of Monte Rosa Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Monte Rosa Therapeutics by 2.2% in the fourth quarter. Bank of New York Mellon Corp now owns 170,312 shares of the company's stock worth $1,182,000 after purchasing an additional 3,619 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Monte Rosa Therapeutics by 38.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company's stock valued at $98,000 after purchasing an additional 5,125 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Monte Rosa Therapeutics by 10,665.5% during the 4th quarter. GAMMA Investing LLC now owns 5,921 shares of the company's stock worth $41,000 after buying an additional 5,866 shares during the period. SG Americas Securities LLC raised its stake in shares of Monte Rosa Therapeutics by 60.7% during the fourth quarter. SG Americas Securities LLC now owns 16,742 shares of the company's stock worth $116,000 after buying an additional 6,323 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 worth $128,000 after buying an additional 8,500 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

Remove Ads

Insider Activity at Monte Rosa Therapeutics

In related news, Director Chandra P. Leo bought 10,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were purchased at an average cost of $5.84 per share, for a total transaction of $58,400.00. Following the acquisition, the director now owns 10,000 shares of the company's stock, valued at approximately $58,400. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 6.50% of the stock is owned by insiders.

Monte Rosa Therapeutics Price Performance

Shares of NASDAQ GLUE traded down $0.02 during midday trading on Tuesday, reaching $4.39. 493,043 shares of the stock were exchanged, compared to its average volume of 1,024,056. Monte Rosa Therapeutics, Inc. has a 12 month low of $3.21 and a 12 month high of $12.40. The company has a market capitalization of $270.03 million, a price-to-earnings ratio of -2.40 and a beta of 1.53. The business has a 50-day simple moving average of $5.66 and a two-hundred day simple moving average of $6.60.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its earnings results on Thursday, March 20th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.60. The business had revenue of $14.00 million for the quarter, compared to the consensus estimate of $43.73 million. Equities research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GLUE has been the subject of a number of analyst reports. Wedbush reaffirmed an "outperform" rating and set a $17.00 target price (up previously from $15.00) on shares of Monte Rosa Therapeutics in a report on Thursday, March 20th. Lifesci Capital began coverage on Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $19.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on Monte Rosa Therapeutics from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st.

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.