Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 54.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,100 shares of the company’s stock after buying an additional 8,500 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Monte Rosa Therapeutics were worth $128,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GLUE. Meeder Asset Management Inc. purchased a new position in Monte Rosa Therapeutics during the 2nd quarter valued at about $38,000. SG Americas Securities LLC acquired a new stake in shares of Monte Rosa Therapeutics in the third quarter valued at approximately $55,000. Intech Investment Management LLC purchased a new position in shares of Monte Rosa Therapeutics during the 3rd quarter worth approximately $77,000. MetLife Investment Management LLC acquired a new position in shares of Monte Rosa Therapeutics during the 3rd quarter worth approximately $132,000. Finally, American Century Companies Inc. lifted its stake 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 in the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GLUE shares. Wells Fargo & Company downgraded Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $14.00 to $11.00 in a research report on Thursday. Wedbush reiterated an “outperform” rating and set a $15.00 price objective on shares of Monte Rosa Therapeutics in a research report on Thursday, November 7th.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was 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 directly owns 2,007,948 shares in the company, valued at $19,396,777.68. This represents a 4.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 6.50% of the company’s stock.

Monte Rosa Therapeutics Stock Performance

GLUE stock opened at $6.93 on Friday. Monte Rosa Therapeutics, Inc. has a one year low of $3.21 and a one year high of $12.40. The stock has a market capitalization of $425.76 million, a P/E ratio of -3.79 and a beta of 1.37. The company has a 50 day moving average price of $8.03 and a two-hundred day moving average price of $5.92.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its earnings results on Thursday, November 7th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.16. The business had revenue of $9.22 million during the quarter, compared to analyst estimates of $4.54 million. 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.