Barclays PLC Acquires 43,499 Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Barclays PLC raised its holdings in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 395.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,508 shares of the company’s stock after acquiring an additional 43,499 shares during the period. Barclays PLC owned about 0.09% of Monte Rosa Therapeutics worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in shares of Monte Rosa Therapeutics by 16.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 109,864 shares of the company’s stock valued at $411,000 after purchasing an additional 15,845 shares during the period. American Century Companies Inc. lifted its stake in Monte Rosa Therapeutics by 46.0% in the second 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. Dimensional Fund Advisors LP boosted its holdings in shares of Monte Rosa Therapeutics by 111.6% in the second quarter. Dimensional Fund Advisors LP now owns 153,758 shares of the company’s stock valued at $575,000 after buying an additional 81,083 shares during the period. Renaissance Technologies LLC increased its position in shares of Monte Rosa Therapeutics by 108.6% during the second quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock worth $953,000 after acquiring an additional 132,614 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Monte Rosa Therapeutics during the third quarter worth $55,000. 79.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GLUE has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Monte Rosa Therapeutics in a research note on Thursday, November 7th. Wells Fargo & Company cut Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $14.00 to $11.00 in a research report on Thursday, December 19th.

Monte Rosa Therapeutics Price Performance

NASDAQ:GLUE opened at $5.66 on Tuesday. The firm’s fifty day moving average price is $7.68 and its two-hundred day moving average price is $6.35. The company has a market cap of $347.75 million, a P/E ratio of -3.09 and a beta of 1.47. Monte Rosa Therapeutics, Inc. has a one year low of $3.21 and a one year high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly 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 firm had revenue of $9.22 million during the quarter, compared to the consensus estimate of $4.54 million. As a group, equities research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $9.66, for a total value of $869,303.40. Following the completion of the transaction, the insider now owns 2,007,948 shares of the company’s stock, valued at approximately $19,396,777.68. This represents a 4.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.