Vestal Point Capital LP Trims Position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Vestal Point Capital LP trimmed its holdings in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 54.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 425,000 shares of the company's stock after selling 505,000 shares during the period. Vestal Point Capital LP owned 0.69% of Monte Rosa Therapeutics worth $2,950,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Barclays PLC increased its position in Monte Rosa Therapeutics by 395.1% in the 3rd quarter. Barclays PLC now owns 54,508 shares of the company's stock valued at $289,000 after acquiring an additional 43,499 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Monte Rosa Therapeutics by 38.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company's stock valued at $98,000 after purchasing an additional 5,125 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Monte Rosa Therapeutics by 60.7% in the 4th quarter. SG Americas Securities LLC now owns 16,742 shares of the company's stock valued at $116,000 after purchasing an additional 6,323 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Monte Rosa Therapeutics in the fourth quarter valued at approximately $92,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of Monte Rosa Therapeutics during the fourth quarter worth approximately $90,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GLUE shares. Wells Fargo & Company cut their target price on Monte Rosa Therapeutics from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Friday, March 21st. Lifesci Capital assumed coverage on shares of Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $19.00 price objective for the company. Wall Street Zen downgraded shares of Monte Rosa Therapeutics from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Wedbush restated an "outperform" rating and set a $17.00 target price (up from $15.00) on shares of Monte Rosa Therapeutics in a research report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Monte Rosa Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.50.

Monte Rosa Therapeutics Price Performance

GLUE traded up $0.04 during trading on Thursday, reaching $4.05. 320,319 shares of the stock were exchanged, compared to its average volume of 1,058,965. The business's 50 day moving average price is $4.70 and its two-hundred day moving average price is $6.32. The company has a market capitalization of $249.12 million, a price-to-earnings ratio of -2.21 and a beta of 1.52. Monte Rosa Therapeutics, Inc. has a 1 year low of $3.21 and a 1 year high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last released 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 firm had revenue of $84.93 million for the quarter, compared to analyst estimates of $13.57 million. On average, analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Insider Transactions at Monte Rosa Therapeutics

In related news, Director Chandra P. Leo acquired 10,000 shares of Monte Rosa Therapeutics stock in a transaction dated Monday, March 24th. The shares were acquired at an average cost of $5.84 per share, for a total transaction of $58,400.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company's stock, valued at $58,400. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 6.90% of the company's stock.

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.