Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Shares Bought by Vestal Point Capital LP

Vestal Point Capital LP grew its holdings in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 930,000 shares of the company’s stock after buying an additional 40,000 shares during the quarter. Vestal Point Capital LP owned 1.51% of Monte Rosa Therapeutics worth $4,929,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GLUE. Meeder Asset Management Inc. bought a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter worth about $38,000. SG Americas Securities LLC bought a new stake in Monte Rosa Therapeutics in the third quarter valued at about $55,000. Intech Investment Management LLC acquired a new stake in Monte Rosa Therapeutics during the third quarter valued at approximately $77,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 worth $128,000 after buying an additional 8,500 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new position in Monte Rosa Therapeutics during the 3rd quarter worth approximately $132,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.16, for a total transaction of $57,097.04. Following the completion of the transaction, the insider now owns 6,231,902 shares in the company, valued at approximately $38,388,516.32. The trade was a 0.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 1,773,722 shares of company stock worth $11,573,438. 6.50% of the stock is owned by company insiders.

Monte Rosa Therapeutics Stock Up 5.9 %

NASDAQ:GLUE opened at $9.11 on Friday. The stock has a 50 day moving average of $6.93 and a 200-day moving average of $5.44. Monte Rosa Therapeutics, Inc. has a 52 week low of $2.92 and a 52 week high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.16. The company had revenue of $9.22 million during the quarter, compared to analyst estimates of $4.54 million. As a group, sell-side analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GLUE has been the topic of several research reports. Wells Fargo & Company dropped their price target on 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 reissued an “outperform” rating and set a $15.00 target price on shares of Monte Rosa Therapeutics in a report on Thursday, November 7th.

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.