BVF Inc. IL Makes New Investment in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

BVF Inc. IL bought a new position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,764,471 shares of the company's stock, valued at approximately $19,185,000. Monte Rosa Therapeutics comprises 0.7% of BVF Inc. IL's holdings, making the stock its 29th largest holding. BVF Inc. IL owned approximately 4.50% of Monte Rosa Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Versant Venture Management LLC bought a new position in shares of Monte Rosa Therapeutics during the fourth quarter worth $39,231,000. Vanguard Group Inc. increased its position in shares of Monte Rosa Therapeutics by 24.5% in the 4th quarter. Vanguard Group Inc. now owns 3,156,354 shares of the company's stock valued at $21,905,000 after buying an additional 622,134 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Monte Rosa Therapeutics by 7.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,116,637 shares of the company's stock worth $49,391,000 after buying an additional 515,496 shares during the period. Norges Bank bought a new position in Monte Rosa Therapeutics during the fourth quarter worth about $3,094,000. Finally, Marshall Wace LLP grew its stake in Monte Rosa Therapeutics by 187.3% in the fourth quarter. Marshall Wace LLP now owns 499,492 shares of the company's stock valued at $3,466,000 after acquiring an additional 325,643 shares during the period. 79.96% of the stock is owned by institutional investors.

Insider Activity at Monte Rosa Therapeutics

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

Wall Street Analysts Forecast Growth

GLUE has been the topic of several recent analyst reports. Wedbush reiterated 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. Wells Fargo & Company cut their price target on shares of 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. Finally, Lifesci Capital initiated coverage on shares of Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating and a $19.00 price objective for the company.

Monte Rosa Therapeutics Price Performance

Shares of GLUE traded down $0.11 during mid-day trading on Friday, hitting $4.11. 283,048 shares of the company's stock were exchanged, compared to its average volume of 1,053,252. Monte Rosa Therapeutics, Inc. has a 52 week low of $3.21 and a 52 week high of $12.40. The company has a market cap of $252.81 million, a PE ratio of -2.25 and a beta of 1.52. The company has a 50-day simple moving average of $5.09 and a 200 day simple moving average of $6.52.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.81. On average, analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

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.