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

Norges Bank purchased a new position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 445,868 shares of the company's stock, valued at approximately $3,094,000. Norges Bank owned 0.73% of Monte Rosa Therapeutics at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Monte Rosa Therapeutics by 2.2% in the 4th quarter. Bank of New York Mellon Corp now owns 170,312 shares of the company's stock valued at $1,182,000 after purchasing an additional 3,619 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Monte Rosa Therapeutics by 38.2% during the third quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company's stock worth $98,000 after acquiring an additional 5,125 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Monte Rosa Therapeutics by 10,665.5% in the 4th quarter. GAMMA Investing LLC now owns 5,921 shares of the company's stock valued at $41,000 after purchasing an additional 5,866 shares in the last quarter. SG Americas Securities LLC increased its position in Monte Rosa Therapeutics by 60.7% during the 4th quarter. SG Americas Securities LLC now owns 16,742 shares of the company's stock worth $116,000 after purchasing an additional 6,323 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Monte Rosa Therapeutics by 54.5% in the 3rd 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 purchasing an additional 8,500 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Monte Rosa Therapeutics Trading Down 3.7 %

NASDAQ GLUE traded down $0.16 during mid-day trading on Wednesday, hitting $4.27. The company's stock had a trading volume of 21,296 shares, compared to its average volume of 1,025,893. The company's 50 day simple moving average is $5.61 and its 200 day simple moving average is $6.59. Monte Rosa Therapeutics, Inc. has a twelve month low of $3.21 and a twelve month high of $12.40. The firm has a market capitalization of $262.46 million, a price-to-earnings ratio of -2.33 and a beta of 1.53.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.60. The company had revenue of $14.00 million for the quarter, compared to the consensus estimate of $43.73 million. As a group, research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Analysts Set New Price Targets

GLUE has been the subject of a number of research reports. Wells Fargo & Company dropped their price target on 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. Lifesci Capital initiated coverage on shares of Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $19.00 price objective on the stock. Finally, Wedbush reissued an "outperform" rating and issued a $17.00 price target (up previously from $15.00) on shares of Monte Rosa Therapeutics in a research note on Thursday, March 20th.

Insider Buying and Selling

In other 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 price of $5.84 per share, with a total value of $58,400.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $58,400. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.50% of the stock is owned by corporate insiders.

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.