Meeder Asset Management Inc. Purchases Shares of 10,050 Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Meeder Asset Management Inc. purchased a new stake in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,050 shares of the company’s stock, valued at approximately $38,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in Monte Rosa Therapeutics by 3.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,096,787 shares of the company’s stock worth $35,933,000 after acquiring an additional 155,880 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Monte Rosa Therapeutics by 92.5% during the 1st quarter. Acadian Asset Management LLC now owns 55,548 shares of the company’s stock worth $390,000 after purchasing an additional 26,687 shares during the period. Vanguard Group Inc. raised its position in shares of Monte Rosa Therapeutics by 3.0% during the first quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock valued at $11,533,000 after buying an additional 47,412 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Monte Rosa Therapeutics in the first quarter valued at about $112,000. Finally, American Century Companies Inc. grew its position in Monte Rosa Therapeutics by 46.0% during the second quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock worth $185,000 after buying an additional 15,562 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GLUE shares. Piper Sandler restated an “overweight” rating and set a $16.00 price target on shares of Monte Rosa Therapeutics in a research note on Friday, June 28th. Wells Fargo & Company lowered their price target on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Finally, Wedbush restated an “outperform” rating and set a $11.00 price target on shares of Monte Rosa Therapeutics in a research note on Thursday.

Monte Rosa Therapeutics Trading Up 2.0 %

NASDAQ GLUE opened at $6.08 on Monday. The stock’s 50 day moving average is $5.02 and its two-hundred day moving average is $5.25. The company has a market capitalization of $307.11 million, a price-to-earnings ratio of -2.41 and a beta of 1.44. Monte Rosa Therapeutics, Inc. has a 1-year low of $2.44 and a 1-year high of $8.84.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.07. The company had revenue of $4.70 million for the quarter, compared to analyst estimates of $3.20 million. On average, analysts predict that Monte Rosa Therapeutics, Inc. will post -1.89 earnings per share for the current year.

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 541,897 shares of Monte Rosa Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $6.00, for a total transaction of $3,251,382.00. Following the sale, the insider now directly owns 6,257,218 shares of the company’s stock, valued at $37,543,308. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 552,776 shares of company stock valued at $3,314,645. 6.50% of the stock is currently 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.