Vanguard Group Inc. Grows Stock Holdings in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Vanguard Group Inc. lifted its stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 24.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,156,354 shares of the company's stock after buying an additional 622,134 shares during the period. Vanguard Group Inc. owned approximately 5.14% of Monte Rosa Therapeutics worth $21,905,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GLUE. GAMMA Investing LLC increased its holdings 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 acquiring an additional 5,866 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in Monte Rosa Therapeutics during the 4th quarter worth $90,000. Janney Montgomery Scott LLC acquired a new position in Monte Rosa Therapeutics in the fourth quarter valued at $92,000. JPMorgan Chase & Co. raised its holdings in shares of 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 buying an additional 5,125 shares during the last quarter. Finally, SG Americas Securities LLC boosted 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 period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Monte Rosa Therapeutics Stock Performance

GLUE stock traded up $0.14 during trading on Friday, reaching $4.55. 712,398 shares of the company were exchanged, compared to its average volume of 1,042,311. The stock's 50 day moving average price is $5.49 and its 200 day moving average price is $6.58. 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 $279.87 million, a P/E ratio of -2.49 and a beta of 1.53.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last released its quarterly 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 firm had revenue of $14.00 million during the quarter, compared to analyst estimates of $43.73 million. As a group, equities research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. Wedbush reaffirmed an "outperform" rating and set a $17.00 price objective (up from $15.00) on shares of Monte Rosa Therapeutics in a research note on Thursday, March 20th. Wells Fargo & Company lowered their price objective on shares of Monte Rosa Therapeutics from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Friday, March 21st. Finally, Lifesci Capital initiated coverage on shares of Monte Rosa Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating and a $19.00 target price on the stock.

Insider Activity

In other Monte Rosa Therapeutics news, Director Chandra P. Leo purchased 10,000 shares of the stock in a transaction dated 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 transaction, the director now directly 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 filing with the SEC, which is available through this hyperlink. Company insiders own 6.50% of the company's stock.

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.