BVF Inc. IL Raises Stock Position in Monte Rosa Therapeutics, Inc. $GLUE

Key Points

• BVF Inc. IL increased its stake in Monte Rosa Therapeutics by 104.7%, purchasing a total of 2,895,661 shares, bringing their ownership to approximately 9.20% of the company.
• Monte Rosa Therapeutics recently reported a quarterly revenue of $23.19 million, significantly exceeding the consensus estimate of $7.23 million and achieving earnings per share of ($0.15), beating expectations.
• The stock has a current consensus rating of "Moderate Buy" with a price target of $15.33, despite being downgraded from "buy" to "hold" by some analysts.

BVF Inc. IL raised its holdings in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 104.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,660,132 shares of the company's stock after purchasing an additional 2,895,661 shares during the quarter. Monte Rosa Therapeutics accounts for about 1.1% of BVF Inc. IL's portfolio, making the stock its 20th largest position. BVF Inc. IL owned about 9.20% of Monte Rosa Therapeutics worth $26,263,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GLUE. Readystate Asset Management LP purchased a new position in shares of Monte Rosa Therapeutics during the 1st quarter worth about $1,332,000. Two Sigma Investments LP boosted its stake in shares of Monte Rosa Therapeutics by 1,965.1% during the 4th quarter. Two Sigma Investments LP now owns 278,785 shares of the company's stock worth $1,935,000 after purchasing an additional 265,285 shares during the period. AQR Capital Management LLC purchased a new position in shares of Monte Rosa Therapeutics during the 1st quarter worth about $1,065,000. Nuveen LLC purchased a new position in shares of Monte Rosa Therapeutics during the 1st quarter worth about $546,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Monte Rosa Therapeutics during the 4th quarter worth about $644,000. Institutional investors own 79.96% of the company's stock.

Monte Rosa Therapeutics Stock Down 2.7%

GLUE traded down $0.14 on Monday, reaching $4.81. 127,535 shares of the company traded hands, compared to its average volume of 582,399. Monte Rosa Therapeutics, Inc. has a one year low of $3.50 and a one year high of $12.40. The firm has a fifty day simple moving average of $4.96 and a two-hundred day simple moving average of $4.91. The company has a market cap of $296.76 million, a P/E ratio of 13.35 and a beta of 1.42.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.16. Monte Rosa Therapeutics had a net margin of 13.58% and a return on equity of 9.95%. The business had revenue of $23.19 million during the quarter, compared to analyst estimates of $7.23 million. On average, equities analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.