445,868 Shares in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Acquired by Norges Bank

Norges Bank purchased a new stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 445,868 shares of the company’s stock, valued at approximately $3,094,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of Monte Rosa Therapeutics by 23.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock worth $5,538,000 after acquiring an additional 197,247 shares during the last quarter. Barclays PLC boosted its position 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 valued at $289,000 after purchasing an additional 43,499 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Monte Rosa Therapeutics by 54.5% in 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 worth $128,000 after purchasing an additional 8,500 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Monte Rosa Therapeutics by 38.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company’s stock worth $98,000 after buying an additional 5,125 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Monte Rosa Therapeutics by 6.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 370,472 shares of the company’s stock valued at $2,571,000 after buying an additional 23,974 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Monte Rosa Therapeutics Stock Performance

Monte Rosa Therapeutics stock opened at $4.15 on Friday. Monte Rosa Therapeutics, Inc. has a twelve month low of $3.21 and a twelve month high of $12.40. The firm has a market cap of $255.27 million, a PE ratio of -2.27 and a beta of 1.53. The firm’s 50 day moving average price is $5.76 and its two-hundred day moving average price is $6.61.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings data on Thursday, March 20th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.60. The firm had revenue of $14.00 million for the quarter, compared to analysts’ expectations of $43.73 million. Equities analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GLUE shares. Wedbush restated an “outperform” rating and set a $17.00 price target (up previously from $15.00) on shares of Monte Rosa Therapeutics in a report on Thursday, March 20th. Wells Fargo & Company cut their target price on shares of Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. Finally, Lifesci Capital initiated coverage on Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 target price for the company.

Insider Transactions at Monte Rosa Therapeutics

In other news, Director Chandra P. Leo purchased 10,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average price of $5.84 per share, with a total value of $58,400.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $58,400. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.50% of the company’s stock.

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.