Cornercap Investment Counsel Inc. Reduces Position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Cornercap Investment Counsel Inc. trimmed its holdings in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 54.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,236 shares of the company’s stock after selling 22,681 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Monte Rosa Therapeutics were worth $102,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GLUE. Price T Rowe Associates Inc. MD increased its stake in Monte Rosa Therapeutics by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,096,787 shares of the company’s stock worth $35,933,000 after purchasing an additional 155,880 shares during the period. Renaissance Technologies LLC boosted its stake 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 valued at $953,000 after purchasing an additional 132,614 shares during the period. American Century Companies Inc. grew its holdings in shares of Monte Rosa Therapeutics by 46.0% in the second quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock worth $185,000 after purchasing an additional 15,562 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Monte Rosa Therapeutics by 111.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 153,758 shares of the company’s stock worth $575,000 after buying an additional 81,083 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Monte Rosa Therapeutics by 92.5% during the 1st quarter. Acadian Asset Management LLC now owns 55,548 shares of the company’s stock valued at $390,000 after buying an additional 26,687 shares in the last quarter. 79.96% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder Versant Venture Capital Vi, L. sold 541,897 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $6.00, for a total value of $3,251,382.00. Following the sale, the insider now directly owns 6,257,218 shares in the company, valued at approximately $37,543,308. This trade represents a 7.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 1,773,722 shares of company stock worth $11,573,438. 6.50% of the stock is currently owned by company insiders.

Monte Rosa Therapeutics Price Performance

Shares of Monte Rosa Therapeutics stock opened at $7.54 on Tuesday. Monte Rosa Therapeutics, Inc. has a 1 year low of $2.91 and a 1 year high of $12.40. The stock has a market cap of $463.26 million, a price-to-earnings ratio of -4.12 and a beta of 1.30. The firm’s 50-day moving average is $6.57 and its two-hundred day moving average is $5.29.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings data 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 business had revenue of $9.22 million for the quarter, compared to analysts’ expectations of $4.54 million. On average, equities analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Wedbush restated an “outperform” rating and set a $15.00 price objective on shares of Monte Rosa Therapeutics in a report on Thursday, November 7th.

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.