Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE – Get Free Report)’s share price was down 8.9% during mid-day trading on Monday . The company traded as low as $6.51 and last traded at $6.57. Approximately 121,832 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 150,530 shares. The stock had previously closed at $7.21.
Analyst Ratings Changes
Separately, Wedbush started coverage on Monte Rosa Therapeutics in a report on Thursday, February 15th. They issued an “outperform” rating and a $11.00 price target for the company.
Read Our Latest Report on Monte Rosa Therapeutics
Monte Rosa Therapeutics Trading Down 4.3 %
Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.01). As a group, analysts forecast that Monte Rosa Therapeutics, Inc. will post -2.25 earnings per share for the current fiscal year.
Institutional Trading of Monte Rosa Therapeutics
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Monte Rosa Therapeutics by 68.8% during the 2nd quarter. Royal Bank of Canada now owns 3,688 shares of the company’s stock worth $25,000 after buying an additional 1,503 shares during the period. Metropolitan Life Insurance Co NY bought a new stake in shares of Monte Rosa Therapeutics during the first quarter valued at approximately $30,000. Ameritas Investment Partners Inc. increased its holdings in shares of Monte Rosa Therapeutics by 152.6% during the first quarter. Ameritas Investment Partners Inc. now owns 2,241 shares of the company’s stock valued at $31,000 after acquiring an additional 1,354 shares in the last quarter. Barclays PLC increased its holdings in shares of Monte Rosa Therapeutics by 556.9% during the fourth quarter. Barclays PLC now owns 7,988 shares of the company’s stock valued at $61,000 after acquiring an additional 6,772 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Monte Rosa Therapeutics during the third quarter worth $66,000. 79.96% of the stock is owned by institutional investors.
Monte Rosa Therapeutics Company 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.
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