Readystate Asset Management LP Invests $1.33 Million in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Readystate Asset Management LP acquired a new stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 287,000 shares of the company's stock, valued at approximately $1,332,000. Readystate Asset Management LP owned approximately 0.47% of Monte Rosa Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in Monte Rosa Therapeutics by 192.8% during the fourth 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 period. BNP Paribas Financial Markets purchased a new position in shares of Monte Rosa Therapeutics in the 4th quarter worth about $43,000. Virtus ETF Advisers LLC purchased a new position in shares of Monte Rosa Therapeutics in the 4th quarter worth about $63,000. Focus Partners Wealth purchased a new position in shares of Monte Rosa Therapeutics in the 4th quarter worth about $77,000. Finally, Invesco Ltd. purchased a new position in shares of Monte Rosa Therapeutics in the 4th quarter worth about $89,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Monte Rosa Therapeutics from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd.

Monte Rosa Therapeutics Stock Performance

Shares of NASDAQ GLUE remained flat at $5.71 during mid-day trading on Friday. The company had a trading volume of 176,319 shares, compared to its average volume of 624,366. The firm has a market cap of $351.22 million, a PE ratio of 71.87 and a beta of 1.41. Monte Rosa Therapeutics, Inc. has a 1-year low of $3.50 and a 1-year high of $12.40. The firm's 50 day simple moving average is $4.80 and its 200 day simple moving average is $5.23.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.81. The firm had revenue of $84.93 million for the quarter, compared to the consensus estimate of $13.57 million. Monte Rosa Therapeutics had a return on equity of 2.65% and a net margin of 3.86%. Equities analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

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.