311,593 Shares in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Bought by Ikarian Capital LLC

Ikarian Capital LLC purchased a new position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 311,593 shares of the company’s stock, valued at approximately $1,651,000. Ikarian Capital LLC owned 0.51% of Monte Rosa Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Monte Rosa Therapeutics by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock worth $11,533,000 after purchasing an additional 47,412 shares during the last quarter. Vestal Point Capital LP increased its position in shares of Monte Rosa Therapeutics by 4.5% in the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Monte Rosa Therapeutics by 11.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 346,498 shares of the company’s stock worth $1,836,000 after purchasing an additional 34,698 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Monte Rosa Therapeutics by 108.6% in the 2nd quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock worth $953,000 after purchasing an additional 132,614 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of 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 purchasing an additional 81,083 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Trading Up 0.7 %

Monte Rosa Therapeutics stock traded up $0.07 during midday trading on Tuesday, reaching $10.29. 73,819 shares of the stock traded hands, compared to its average volume of 757,163. The firm has a fifty day moving average price of $7.06 and a two-hundred day moving average price of $5.51. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $2.95 and a fifty-two week high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates 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. Sell-side analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Insider Transactions at Monte Rosa Therapeutics

In related news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.16, for a total value of $57,097.04. Following the sale, the insider now directly owns 6,231,902 shares in the company, valued at $38,388,516.32. The trade was a 0.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 1,773,722 shares of company stock valued at $11,573,438. Company insiders own 6.50% of the company’s stock.

Wall Street Analysts Forecast Growth

GLUE has been the subject of several research analyst reports. Wedbush reissued an “outperform” rating and issued a $15.00 target price on shares of Monte Rosa Therapeutics in a research report on Thursday, November 7th. Wells Fargo & Company decreased their price target on shares of Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, August 12th.

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.