Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Stock Position Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,312 shares of the company’s stock after buying an additional 3,619 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.28% of Monte Rosa Therapeutics worth $1,182,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Ikarian Capital LLC bought a new stake in Monte Rosa Therapeutics in the third quarter worth $1,651,000. Geode Capital Management LLC lifted its position in shares of Monte Rosa Therapeutics by 23.3% in the third quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock worth $5,538,000 after buying an additional 197,247 shares during the last quarter. State Street Corp boosted its stake in shares of Monte Rosa Therapeutics by 8.1% during the 3rd quarter. State Street Corp now owns 687,577 shares of the company’s stock worth $3,644,000 after acquiring an additional 51,493 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Monte Rosa Therapeutics by 30.2% in the 3rd quarter. Wellington Management Group LLP now owns 217,001 shares of the company’s stock valued at $1,150,000 after acquiring an additional 50,330 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Monte Rosa Therapeutics by 395.1% in the 3rd quarter. Barclays PLC now owns 54,508 shares of the company’s stock worth $289,000 after purchasing an additional 43,499 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Lifesci Capital began coverage on Monte Rosa Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $17.00 target price (up previously from $15.00) on shares of Monte Rosa Therapeutics in a report on Thursday, March 20th. Finally, Wells Fargo & Company decreased their price target on shares of Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday.

Monte Rosa Therapeutics Trading Up 0.5 %

Shares of Monte Rosa Therapeutics stock opened at $5.83 on Tuesday. Monte Rosa Therapeutics, Inc. has a 1 year low of $3.21 and a 1 year high of $12.40. The company’s fifty day simple moving average is $6.18 and its 200-day simple moving average is $6.78. 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 posted its quarterly earnings results on Thursday, March 20th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of ($0.37) by $0.60. The firm had revenue of $14.00 million during the quarter, compared to analyst estimates 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 fiscal 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.