Parkwood LLC Boosts Stake in 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 increased its position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 119.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 708,000 shares of the company's stock after purchasing an additional 385,000 shares during the quarter. Parkwood LLC owned approximately 1.15% of Monte Rosa Therapeutics worth $3,285,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. BVF Inc. IL increased its position in shares of Monte Rosa Therapeutics by 104.7% during the first quarter. BVF Inc. IL now owns 5,660,132 shares of the company's stock worth $26,263,000 after purchasing an additional 2,895,661 shares in the last quarter. Northern Trust Corp increased its position in shares of Monte Rosa Therapeutics by 5.1% during the fourth quarter. Northern Trust Corp now owns 376,964 shares of the company's stock worth $2,616,000 after purchasing an additional 18,391 shares in the last quarter. Readystate Asset Management LP purchased a new stake in shares of Monte Rosa Therapeutics during the first quarter worth approximately $1,332,000. Two Sigma Investments LP increased its position in shares of Monte Rosa Therapeutics by 1,965.1% during the fourth 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 in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Monte Rosa Therapeutics during the first quarter worth approximately $1,065,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Monte Rosa Therapeutics Trading Up 0.6%

Monte Rosa Therapeutics stock traded up $0.03 during midday trading on Tuesday, hitting $4.83. 308,884 shares of the stock were exchanged, compared to its average volume of 335,822. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $12.40. The stock has a market capitalization of $298.30 million, a price-to-earnings ratio of 13.42 and a beta of 1.42. The stock's 50-day simple moving average is $4.97 and its 200 day simple moving average is $4.90.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $23.19 million during the quarter, compared to analysts' expectations of $7.23 million. Equities analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Monte Rosa Therapeutics Profile

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.