Cubist Systematic Strategies LLC Buys New Position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Cubist Systematic Strategies LLC purchased a new stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 92,818 shares of the company's stock, valued at approximately $644,000. Cubist Systematic Strategies LLC owned about 0.15% of Monte Rosa Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in Monte Rosa Therapeutics by 192.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company's stock valued at $38,000 after acquiring an additional 3,584 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Monte Rosa Therapeutics in the 4th quarter valued at approximately $43,000. Virtus ETF Advisers LLC acquired a new stake in Monte Rosa Therapeutics in the fourth quarter valued at $63,000. Invesco Ltd. purchased a new stake in Monte Rosa Therapeutics during the fourth quarter worth about $89,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in Monte Rosa Therapeutics in the 4th quarter valued at approximately $90,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, Director Chandra P. Leo acquired 10,000 shares of the business's stock in a transaction dated Monday, March 24th. The stock was purchased 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. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GLUE. Wells Fargo & Company decreased their price target on shares of 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. Wedbush restated an "outperform" rating and issued a $17.00 target price (up previously from $15.00) on shares of Monte Rosa Therapeutics in a research note on Thursday, March 20th. Finally, Lifesci Capital began coverage on Monte Rosa Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating and a $19.00 target price on the stock.

Monte Rosa Therapeutics Price Performance

Shares of GLUE stock traded down $0.14 on Wednesday, hitting $4.03. The stock had a trading volume of 47,923 shares, compared to its average volume of 1,054,217. The business has a 50 day moving average of $4.74 and a 200 day moving average of $6.34. Monte Rosa Therapeutics, Inc. has a 12-month low of $3.21 and a 12-month high of $12.40. The stock has a market cap of $247.58 million, a price-to-earnings ratio of -2.20 and a beta of 1.52.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.81. The firm had revenue of $84.93 million during the quarter, compared to analysts' expectations of $13.57 million. As a group, research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current fiscal 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.