Versant Venture Management LLC bought a new position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,652,922 shares of the company's stock, valued at approximately $39,231,000. Monte Rosa Therapeutics comprises about 45.2% of Versant Venture Management LLC's investment portfolio, making the stock its largest holding. Versant Venture Management LLC owned about 9.20% of Monte Rosa Therapeutics at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Monte Rosa Therapeutics by 24.5% in the fourth quarter. Vanguard Group Inc. now owns 3,156,354 shares of the company's stock worth $21,905,000 after buying an additional 622,134 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Monte Rosa Therapeutics during the 4th quarter worth $120,000. American Century Companies Inc. raised its holdings in shares of Monte Rosa Therapeutics by 27.3% during the 4th quarter. American Century Companies Inc. now owns 76,850 shares of the company's stock valued at $533,000 after purchasing an additional 16,485 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Monte Rosa Therapeutics during the 4th quarter valued at $657,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Monte Rosa Therapeutics by 6.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 370,472 shares of the company's stock valued at $2,571,000 after purchasing an additional 23,974 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have commented on GLUE shares. Lifesci Capital assumed coverage on shares of Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating and a $19.00 target price on the stock. Wedbush reissued an "outperform" rating and set a $17.00 price objective (up previously from $15.00) on shares of Monte Rosa Therapeutics in a report on Thursday, March 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Monte Rosa Therapeutics from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Friday, March 21st.
Read Our Latest Research Report on Monte Rosa Therapeutics
Insiders Place Their Bets
In other Monte Rosa Therapeutics news, Director Chandra P. Leo acquired 10,000 shares of the company's stock in a transaction dated Monday, March 24th. The stock was bought at an average price of $5.84 per share, for a total transaction of $58,400.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $58,400. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 6.50% of the company's stock.
Monte Rosa Therapeutics Trading Down 3.0 %
GLUE traded down $0.16 during midday trading on Friday, reaching $5.10. The company's stock had a trading volume of 587,051 shares, compared to its average volume of 988,683. The company has a fifty day simple moving average of $6.15 and a 200 day simple moving average of $6.76. The stock has a market cap of $313.70 million, a P/E ratio of -2.79 and a beta of 1.50. Monte Rosa Therapeutics, Inc. has a twelve month low of $3.21 and a twelve month high of $12.40.
Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.60. The company had revenue of $14.00 million during the quarter, compared to analyst estimates of $43.73 million. Sell-side analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.
Monte Rosa Therapeutics Company Profile
(
Free Report)
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.
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