AlphaQuest LLC Cuts Stake in Monte Rosa Therapeutics, Inc. $GLUE

Key Points

• AlphaQuest LLC has significantly reduced its stake in Monte Rosa Therapeutics by 71.2%, now holding 27,251 shares valued at approximately $126,000.
• In the fourth quarter, several institutional investors increased their positions in Monte Rosa, with JPMorgan Chase increasing its holdings by 29.9% and Barclays PLC by 29.8%.
• Monte Rosa Therapeutics recently reported earnings of ($0.15) per share, surpassing estimates, and generated revenue of $23.19 million for the quarter.

AlphaQuest LLC lessened its stake in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 71.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 27,251 shares of the company's stock after selling 67,382 shares during the period. AlphaQuest LLC's holdings in Monte Rosa Therapeutics were worth $126,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Monte Rosa Therapeutics by 9.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,701 shares of the company's stock valued at $172,000 after purchasing an additional 2,084 shares during the period. Tower Research Capital LLC TRC boosted its position in Monte Rosa Therapeutics by 192.8% during the 4th 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. Wellington Management Group LLP lifted its holdings in shares of Monte Rosa Therapeutics by 2.2% during the 4th quarter. Wellington Management Group LLP now owns 221,741 shares of the company's stock valued at $1,539,000 after purchasing an additional 4,740 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Monte Rosa Therapeutics by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 144,811 shares of the company's stock valued at $1,005,000 after purchasing an additional 5,538 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Monte Rosa Therapeutics by 29.9% during the 4th quarter. JPMorgan Chase & Co. now owns 24,094 shares of the company's stock valued at $167,000 after purchasing an additional 5,551 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Monte Rosa Therapeutics from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Monte Rosa Therapeutics has an average rating of "Moderate Buy" and an average target price of $15.33.

Monte Rosa Therapeutics Price Performance

Shares of NASDAQ:GLUE traded up $0.03 during midday trading on Friday, hitting $4.94. The company had a trading volume of 330,607 shares, compared to its average volume of 348,202. The business's 50-day simple moving average is $4.96 and its 200-day simple moving average is $4.92. The stock has a market cap of $305.09 million, a price-to-earnings ratio of 13.72 and a beta of 1.42. Monte Rosa Therapeutics, Inc. has a twelve month low of $3.50 and a twelve month high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.16. The business had revenue of $23.19 million during the quarter, compared to analysts' expectations of $7.23 million. Monte Rosa Therapeutics had a return on equity of 9.95% and a net margin of 13.58%. As a group, sell-side 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.