Price T Rowe Associates Inc. MD Boosts Position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Price T Rowe Associates Inc. MD raised its holdings in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,116,637 shares of the company's stock after buying an additional 515,496 shares during the period. Price T Rowe Associates Inc. MD owned about 11.58% of Monte Rosa Therapeutics worth $49,391,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Monte Rosa Therapeutics by 8.1% in the third quarter. State Street Corp now owns 687,577 shares of the company's stock valued at $3,644,000 after purchasing an additional 51,493 shares during the last quarter. Barclays PLC boosted its stake in shares of Monte Rosa Therapeutics by 395.1% in the 3rd quarter. Barclays PLC now owns 54,508 shares of the company's stock worth $289,000 after buying an additional 43,499 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Monte Rosa Therapeutics by 23.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company's stock worth $5,538,000 after purchasing an additional 197,247 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Monte Rosa Therapeutics by 38.2% in the third 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. Finally, GAMMA Investing LLC grew its holdings in Monte Rosa Therapeutics by 10,665.5% during the fourth 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 during the period. Institutional investors and hedge funds own 79.96% of the company's stock.

Insider Buying and Selling at Monte Rosa Therapeutics

In other news, Director Chandra P. Leo acquired 10,000 shares of Monte Rosa Therapeutics stock in a transaction dated 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 transaction, the director now owns 10,000 shares of the company's stock, valued at $58,400. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GLUE. Lifesci Capital began coverage on Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating and a $19.00 price target on the stock. Wedbush reissued 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. Finally, Wells Fargo & Company cut their price target on Monte Rosa Therapeutics from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Friday, March 21st.

Monte Rosa Therapeutics Trading Down 5.9 %

Shares of GLUE traded down $0.29 during mid-day trading on Monday, reaching $4.68. 39,274 shares of the stock traded hands, compared to its average volume of 1,052,017. The company has a market cap of $287.62 million, a price-to-earnings ratio of -2.57 and a beta of 1.53. Monte Rosa Therapeutics, Inc. has a 1 year low of $3.21 and a 1 year high of $12.40. The firm has a fifty day moving average price of $5.20 and a 200 day moving average price of $6.57.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.60. The business had revenue of $14.00 million during the quarter, compared to the consensus estimate of $43.73 million. On average, sell-side analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 EPS 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.