Two Sigma Investments LP boosted its holdings in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 1,965.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 278,785 shares of the company's stock after purchasing an additional 265,285 shares during the period. Two Sigma Investments LP owned about 0.45% of Monte Rosa Therapeutics worth $1,935,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings 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 worth $38,000 after buying an additional 3,584 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Monte Rosa Therapeutics during the 4th quarter worth approximately $43,000. Virtus ETF Advisers LLC bought a new position in Monte Rosa Therapeutics during the 4th quarter worth approximately $63,000. Focus Partners Wealth bought a new position in Monte Rosa Therapeutics during the 4th quarter worth approximately $77,000. Finally, Invesco Ltd. bought a new position in Monte Rosa Therapeutics during the 4th quarter worth approximately $89,000. Hedge funds and other institutional investors own 79.96% of the company's stock.
Insider Activity at Monte Rosa Therapeutics
In other Monte Rosa Therapeutics news, Director Chandra P. Leo bought 10,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $5.84 per share, for a total transaction of $58,400.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $58,400. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.90% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research analysts have commented on the company. Wells Fargo & Company reduced their target price on Monte Rosa Therapeutics from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Friday, March 21st. Wedbush reaffirmed an "outperform" rating and set a $17.00 target price (up previously from $15.00) on shares of Monte Rosa Therapeutics in a report on Thursday, March 20th. Wall Street Zen downgraded Monte Rosa Therapeutics from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Lifesci Capital assumed coverage on Monte Rosa Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating and a $19.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $15.50.
Read Our Latest Stock Analysis on GLUE
Monte Rosa Therapeutics Price Performance
Shares of NASDAQ GLUE traded up $0.01 during mid-day trading on Thursday, hitting $4.62. The company had a trading volume of 507,307 shares, compared to its average volume of 1,070,708. The stock has a market cap of $284.18 million, a price-to-earnings ratio of -2.52 and a beta of 1.40. Monte Rosa Therapeutics, Inc. has a 12 month low of $3.21 and a 12 month high of $12.40. The firm's 50 day simple moving average is $4.33 and its two-hundred day simple moving average is $5.97.
Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.81. The company had revenue of $84.93 million during the quarter, compared to the consensus estimate of $13.57 million. Equities analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.
Monte Rosa Therapeutics Profile
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Free Report)
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.
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