Intech Investment Management LLC Invests $77,000 in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Intech Investment Management LLC acquired a new stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,457 shares of the company’s stock, valued at approximately $77,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in Monte Rosa Therapeutics in the 2nd quarter valued at about $38,000. SG Americas Securities LLC acquired a new stake in Monte Rosa Therapeutics during the 3rd quarter worth approximately $55,000. American Century Companies Inc. boosted its position in Monte Rosa Therapeutics by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock valued at $185,000 after buying an additional 15,562 shares during the period. Acadian Asset Management LLC grew its stake in shares of Monte Rosa Therapeutics by 77.4% in the second quarter. Acadian Asset Management LLC now owns 98,557 shares of the company’s stock worth $366,000 after acquiring an additional 43,009 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Monte Rosa Therapeutics by 16.9% in the second quarter. Bank of New York Mellon Corp now owns 109,864 shares of the company’s stock valued at $411,000 after acquiring an additional 15,845 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $9.66, for a total transaction of $869,303.40. Following the completion of the sale, the insider now owns 2,007,948 shares in the company, valued at $19,396,777.68. This represents a 4.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,773,722 shares of company stock worth $11,573,438 in the last quarter. 6.50% of the stock is owned by insiders.

Monte Rosa Therapeutics Stock Up 6.6 %

GLUE stock opened at $9.41 on Monday. The stock has a market cap of $578.15 million, a price-to-earnings ratio of -5.14 and a beta of 1.37. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $2.95 and a fifty-two week high of $12.40. The business has a 50 day moving average price of $7.46 and a 200 day moving average price of $5.67.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.16. The company had revenue of $9.22 million during the quarter, compared to analyst estimates of $4.54 million. As a group, sell-side analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Analyst Ratings Changes

GLUE has been the topic of several recent research reports. Wells Fargo & Company cut their price target on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Wedbush reiterated an “outperform” rating and issued a $15.00 price target on shares of Monte Rosa Therapeutics in a research note on Thursday, November 7th.

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.