Suvretta Capital Management LLC cut its holdings in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 41.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,563,798 shares of the company's stock after selling 1,095,202 shares during the period. Suvretta Capital Management LLC owned about 2.55% of Monte Rosa Therapeutics worth $10,853,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of 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 last quarter. JPMorgan Chase & Co. lifted 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 acquiring an additional 5,125 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Monte Rosa Therapeutics in the 4th quarter valued at $191,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Monte Rosa Therapeutics by 6.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 370,472 shares of the company's stock valued at $2,571,000 after acquiring an additional 23,974 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Monte Rosa Therapeutics by 17.8% in the 4th quarter. Rhumbline Advisers now owns 61,791 shares of the company's stock valued at $429,000 after acquiring an additional 9,323 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.
Insider Activity at Monte Rosa Therapeutics
In other news, Director Chandra P. Leo purchased 10,000 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were purchased at an average price of $5.84 per share, with a total value of $58,400.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $58,400. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 6.90% of the stock is owned by company insiders.
Analyst Ratings Changes
GLUE has been the subject of a number of recent research reports. Lifesci Capital initiated coverage on Monte Rosa Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating and a $19.00 price objective for the company. Wedbush restated an "outperform" rating and issued a $17.00 price objective (up from $15.00) on shares of Monte Rosa Therapeutics in a report on Thursday, March 20th. Finally, Wells Fargo & Company decreased their price objective on Monte Rosa Therapeutics from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Friday, March 21st.
Check Out Our Latest Stock Analysis on Monte Rosa Therapeutics
Monte Rosa Therapeutics Stock Performance
GLUE stock opened at $3.98 on Friday. The company has a market capitalization of $244.81 million, a P/E ratio of -2.17 and a beta of 1.52. Monte Rosa Therapeutics, Inc. has a 52-week low of $3.21 and a 52-week high of $12.40. The business has a 50-day simple moving average of $4.83 and a two-hundred day simple moving average of $6.42.
Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.57 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 the consensus estimate of $13.57 million. As a group, sell-side analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current fiscal year.
Monte Rosa Therapeutics Profile
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Free Report)
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.
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