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

Price T Rowe Associates Inc. MD grew its holdings in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,116,637 shares of the company’s stock after purchasing an additional 515,496 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 11.58% of Monte Rosa Therapeutics worth $49,391,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Versant Venture Management LLC purchased a new stake in Monte Rosa Therapeutics in the 4th quarter worth about $39,231,000. Vanguard Group Inc. grew its holdings in Monte Rosa Therapeutics by 24.5% during 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. Geode Capital Management LLC grew its holdings in 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 valued at $5,538,000 after buying an additional 197,247 shares in the last quarter. State Street Corp grew its holdings in Monte Rosa Therapeutics by 8.1% during the 3rd quarter. State Street Corp now owns 687,577 shares of the company’s stock valued at $3,644,000 after buying an additional 51,493 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Monte Rosa Therapeutics by 187.3% during the 4th quarter. Marshall Wace LLP now owns 499,492 shares of the company’s stock valued at $3,466,000 after buying an additional 325,643 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, Director Chandra P. Leo purchased 10,000 shares of the stock in a transaction on Monday, March 24th. The stock was acquired 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 of the company’s stock, valued at approximately $58,400. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 6.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GLUE has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their target price 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. Lifesci Capital assumed coverage on Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price target for the company. Finally, Wedbush reiterated an “outperform” rating and set a $17.00 price target (up previously from $15.00) on shares of Monte Rosa Therapeutics in a research report on Thursday, March 20th.

Monte Rosa Therapeutics Price Performance

NASDAQ:GLUE opened at $4.79 on Wednesday. The business has a 50 day moving average of $5.26 and a 200 day moving average of $6.57. The company has a market capitalization of $294.63 million, a price-to-earnings ratio of -2.62 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.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released 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 firm had revenue of $14.00 million during the quarter, compared to the consensus estimate of $43.73 million. As a group, sell-side analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

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.