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

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

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its holdings in Monte Rosa Therapeutics by 395.1% during the 3rd quarter. Barclays PLC now owns 54,508 shares of the company's stock worth $289,000 after acquiring an additional 43,499 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Monte Rosa Therapeutics by 38.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company's stock worth $98,000 after acquiring an additional 5,125 shares during the last quarter. Franklin Resources Inc. purchased a new position in Monte Rosa Therapeutics during the 4th quarter worth $191,000. Charles Schwab Investment Management Inc. boosted its holdings in Monte Rosa Therapeutics by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 370,472 shares of the company's stock worth $2,571,000 after acquiring an additional 23,974 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Monte Rosa Therapeutics by 17.8% during the 4th quarter. Rhumbline Advisers now owns 61,791 shares of the company's stock worth $429,000 after purchasing an additional 9,323 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Monte Rosa Therapeutics

In other news, Director Chandra P. Leo acquired 10,000 shares of the stock in a transaction that occurred on 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 purchase, the director now owns 10,000 shares of the company's stock, valued at approximately $58,400. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GLUE has been the topic of a number of recent analyst reports. Lifesci Capital initiated coverage on Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $19.00 target price on the stock. Wall Street Zen cut Monte Rosa Therapeutics from a "buy" rating to a "hold" rating in a research note on Thursday. Wedbush reiterated an "outperform" rating and set a $17.00 target price (up from $15.00) on shares of Monte Rosa Therapeutics in a research note on Thursday, March 20th. Finally, Wells Fargo & Company lowered their target price on Monte Rosa Therapeutics from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.50.

Monte Rosa Therapeutics Stock Down 2.0%

Monte Rosa Therapeutics stock traded down $0.08 during midday trading on Friday, reaching $3.97. The stock had a trading volume of 515,620 shares, compared to its average volume of 1,060,266. 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 moving average price is $4.59 and its 200 day moving average price is $6.25. The firm has a market capitalization of $244.19 million, a PE ratio of -2.17 and a beta of 1.52.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.81. The firm had revenue of $84.93 million during the quarter, compared to the consensus estimate of $13.57 million. Equities research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current 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.