JPMorgan Chase & Co. Has $98,000 Stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

JPMorgan Chase & Co. raised its stake in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 38.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,543 shares of the company’s stock after purchasing an additional 5,125 shares during the period. JPMorgan Chase & Co.’s holdings in Monte Rosa Therapeutics were worth $98,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of Monte Rosa Therapeutics in the 3rd quarter worth about $55,000. Intech Investment Management LLC acquired a new position in Monte Rosa Therapeutics during the 3rd quarter valued at about $77,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Monte Rosa Therapeutics by 54.5% during the 3rd 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 purchasing an additional 8,500 shares during the last quarter. MetLife Investment Management LLC acquired a new position in Monte Rosa Therapeutics during the 3rd quarter valued at about $132,000. Finally, Barclays PLC boosted its stake in shares of 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 buying an additional 43,499 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Monte Rosa Therapeutics in a report on Thursday, November 7th. Wells Fargo & Company lowered Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $14.00 to $11.00 in a report on Thursday, December 19th.

Monte Rosa Therapeutics Trading Up 3.3 %

Shares of NASDAQ GLUE opened at $6.66 on Monday. The stock has a fifty day simple moving average of $7.24 and a two-hundred day simple moving average of $6.45. Monte Rosa Therapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $12.40. The firm has a market cap of $409.19 million, a price-to-earnings ratio of -3.64 and a beta of 1.47.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.16. The firm had revenue of $9.22 million for the quarter, compared to the consensus estimate of $4.54 million. Analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Monte Rosa Therapeutics Company 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.