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

Intech Investment Management LLC acquired a new stake in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,457 shares of the company’s stock, valued at approximately $77,000.

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Wells Fargo & Company decreased their price objective 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 target price on shares of Monte Rosa Therapeutics in a research report on Thursday, November 7th.

Monte Rosa Therapeutics Stock Performance

NASDAQ:GLUE opened at $9.41 on Monday. Monte Rosa Therapeutics, Inc. has a one year low of $2.95 and a one year high of $12.40. The stock has a market cap of $578.15 million, a PE ratio of -5.14 and a beta of 1.37. The stock 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, topping analysts’ consensus estimates 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, analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Versant Venture Capital Vi, L. sold 1,132,566 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $6.53, for a total value of $7,395,655.98. Following the completion of the transaction, the insider now directly owns 5,099,336 shares in the company, valued at approximately $33,298,664.08. This represents a 18.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 1,773,722 shares of company stock worth $11,573,438. 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.