Versant Venture Management LLC Takes $39.23 Million Position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Versant Venture Management LLC acquired a new stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 5,652,922 shares of the company’s stock, valued at approximately $39,231,000. Monte Rosa Therapeutics comprises about 45.2% of Versant Venture Management LLC’s investment portfolio, making the stock its biggest holding. Versant Venture Management LLC owned about 0.09% of Monte Rosa Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings 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. Barclays PLC increased its stake in Monte Rosa Therapeutics by 395.1% during the 3rd quarter. Barclays PLC now owns 54,508 shares of the company’s stock valued at $289,000 after buying an additional 43,499 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 worth $128,000 after buying an additional 8,500 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Monte Rosa Therapeutics by 38.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company’s stock worth $98,000 after acquiring an additional 5,125 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Monte Rosa Therapeutics by 14.8% in the third quarter. The Manufacturers Life Insurance Company now owns 117,877 shares of the company’s stock valued at $625,000 after acquiring an additional 15,168 shares in the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

In other Monte Rosa Therapeutics news, Director Chandra P. Leo purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $5.84 per share, with a total value of $58,400.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $58,400. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 6.50% of the company’s stock.

Monte Rosa Therapeutics Stock Down 2.7 %

NASDAQ:GLUE opened at $5.67 on Wednesday. The stock has a fifty day simple moving average of $6.19 and a 200 day simple moving average of $6.78. The firm 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 1-year low of $3.21 and a 1-year high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its earnings results on Thursday, March 20th. The company reported $0.23 earnings per share 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 analysts’ expectations of $43.73 million. Equities analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Monte Rosa Therapeutics 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.