Bank of New York Mellon Corp Buys 3,619 Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Bank of New York Mellon Corp increased its stake in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,312 shares of the company’s stock after purchasing an additional 3,619 shares during the quarter. Bank of New York Mellon Corp’s holdings in Monte Rosa Therapeutics were worth $1,182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Monte Rosa Therapeutics by 38.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company’s stock worth $98,000 after buying an additional 5,125 shares in the last quarter. GAMMA Investing LLC lifted its position in Monte Rosa Therapeutics by 10,665.5% during the 4th 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. SG Americas Securities LLC boosted its stake in shares of Monte Rosa Therapeutics by 60.7% in the 4th quarter. SG Americas Securities LLC now owns 16,742 shares of the company’s stock valued at $116,000 after purchasing an additional 6,323 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Monte Rosa Therapeutics by 54.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,100 shares of the company’s stock valued at $128,000 after acquiring an additional 8,500 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Monte Rosa Therapeutics by 17.8% in the 4th quarter. Rhumbline Advisers now owns 61,791 shares of the company’s stock valued at $429,000 after purchasing an additional 9,323 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday. Lifesci Capital started coverage on shares of Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 price objective on the stock. Finally, Wedbush reaffirmed 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 Trading Up 0.5 %

Shares of GLUE opened at $5.83 on Tuesday. The company’s fifty day simple moving average is $6.18 and its 200 day simple moving average is $6.78. Monte Rosa Therapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $12.40. The company has a market cap of $358.18 million, a price-to-earnings ratio of -3.19 and a beta of 1.50.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings data on Thursday, March 20th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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. As a group, research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Monte Rosa Therapeutics 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.