Versant Venture Management LLC Purchases New Stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Versant Venture Management LLC acquired a new position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,652,922 shares of the company’s stock, valued at approximately $39,231,000. Monte Rosa Therapeutics accounts for about 45.2% of Versant Venture Management LLC’s holdings, making the stock its biggest position. Versant Venture Management LLC owned 9.20% of Monte Rosa Therapeutics at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Monte Rosa Therapeutics by 24.5% during the 4th quarter. Vanguard Group Inc. now owns 3,156,354 shares of the company’s stock valued at $21,905,000 after buying an additional 622,134 shares during the period. Geode Capital Management LLC raised its stake in shares of Monte Rosa Therapeutics by 23.3% during the third quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock valued at $5,538,000 after purchasing an additional 197,247 shares during the period. Vestal Point Capital LP lifted its position in shares of Monte Rosa Therapeutics by 4.5% during the third quarter. Vestal Point Capital LP now owns 930,000 shares of the company’s stock worth $4,929,000 after purchasing an additional 40,000 shares in the last quarter. State Street Corp boosted its stake in shares of Monte Rosa Therapeutics by 8.1% in the third quarter. State Street Corp now owns 687,577 shares of the company’s stock valued at $3,644,000 after purchasing an additional 51,493 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Monte Rosa Therapeutics by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 370,472 shares of the company’s stock valued at $2,571,000 after purchasing an additional 23,974 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, Director Chandra P. Leo acquired 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 transaction, the director now directly owns 10,000 shares in the company, valued at approximately $58,400. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.50% of the stock is owned by insiders.

Monte Rosa Therapeutics Stock Performance

Shares of GLUE stock opened at $5.67 on Wednesday. The stock has a market capitalization of $348.35 million, a price-to-earnings ratio of -3.10 and a beta of 1.50. Monte Rosa Therapeutics, Inc. has a one year low of $3.21 and a one year high of $12.40. The company’s 50-day simple moving average is $6.19 and its 200-day simple moving average is $6.78.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, March 20th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.37) by $0.60. The firm had revenue of $14.00 million during the quarter, compared to analyst estimates of $43.73 million. As a group, research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

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.