Parkwood LLC Purchases 385,000 Shares of Monte Rosa Therapeutics, Inc. $GLUE

Key Points

• Parkwood LLC has increased its ownership in Monte Rosa Therapeutics by 119.2%, acquiring an additional 385,000 shares and bringing its total holdings to approximately $3.29 million.
• Analysts have downgraded Monte Rosa Therapeutics from a "buy" rating to a "hold" rating, with a consensus target price of $15.33.
• Monte Rosa Therapeutics reported a significant earnings surprise, with $23.19 million in revenue for the quarter, vastly exceeding analyst estimates of $7.23 million.

Parkwood LLC lifted its stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 119.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 708,000 shares of the company's stock after purchasing an additional 385,000 shares during the period. Parkwood LLC owned 1.15% of Monte Rosa Therapeutics worth $3,285,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BVF Inc. IL lifted its holdings in Monte Rosa Therapeutics by 104.7% in the first quarter. BVF Inc. IL now owns 5,660,132 shares of the company's stock worth $26,263,000 after buying an additional 2,895,661 shares during the period. Readystate Asset Management LP purchased a new position in shares of Monte Rosa Therapeutics during the 1st quarter worth approximately $1,332,000. Two Sigma Investments LP raised its position in shares of Monte Rosa Therapeutics by 1,965.1% in the 4th quarter. Two Sigma Investments LP now owns 278,785 shares of the company's stock worth $1,935,000 after acquiring an additional 265,285 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Monte Rosa Therapeutics in the 1st quarter valued at approximately $1,065,000. Finally, Nuveen LLC purchased a new position in shares of Monte Rosa Therapeutics in the 1st quarter valued at approximately $546,000. Hedge funds and other institutional investors own 79.96% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut 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 issued a Hold rating to the stock. According to MarketBeat.com, Monte Rosa Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $15.33.

Monte Rosa Therapeutics Stock Performance

Shares of GLUE traded up $0.09 during mid-day trading on Thursday, reaching $4.89. The company had a trading volume of 304,163 shares, compared to its average volume of 578,864. The company has a market capitalization of $302.01 million, a price-to-earnings ratio of 13.58 and a beta of 1.42. The firm has a 50-day moving average price of $4.97 and a 200 day moving average price of $4.90. Monte Rosa Therapeutics, Inc. has a 52 week low of $3.50 and a 52 week high of $12.40.

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