Parkwood LLC Sells 103,620 Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Parkwood LLC lessened its stake in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 24.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 323,000 shares of the company’s stock after selling 103,620 shares during the period. Parkwood LLC’s holdings in Monte Rosa Therapeutics were worth $2,242,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Monte Rosa Therapeutics by 7.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,116,637 shares of the company’s stock worth $49,391,000 after buying an additional 515,496 shares in the last quarter. Versant Venture Management LLC purchased a new stake in Monte Rosa Therapeutics during the 4th quarter worth approximately $39,231,000. Vanguard Group Inc. boosted its holdings in shares of Monte Rosa Therapeutics by 24.5% in the 4th quarter. Vanguard Group Inc. now owns 3,156,354 shares of the company’s stock valued at $21,905,000 after acquiring an additional 622,134 shares during the last quarter. BVF Inc. IL acquired a new stake in Monte Rosa Therapeutics during the fourth quarter worth about $19,185,000. Finally, Marshall Wace LLP boosted its position in Monte Rosa Therapeutics by 187.3% during the fourth quarter. Marshall Wace LLP now owns 499,492 shares of the company’s stock worth $3,466,000 after purchasing an additional 325,643 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

Monte Rosa Therapeutics Trading Down 5.4%

GLUE stock opened at $4.04 on Wednesday. Monte Rosa Therapeutics, Inc. has a twelve month low of $3.21 and a twelve month high of $12.40. The company has a market capitalization of $248.50 million, a P/E ratio of -2.21 and a beta of 1.52. The firm has a 50 day simple moving average of $4.97 and a 200-day simple moving average of $6.52.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its earnings results on Thursday, May 8th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.81. The company had revenue of $84.93 million during the quarter, compared to the consensus estimate of $13.57 million. On average, research analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Insider Transactions at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, Director Chandra P. Leo acquired 10,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was 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 directly owns 10,000 shares in the company, valued at $58,400. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wedbush reissued an “outperform” rating and set a $17.00 price objective (up previously from $15.00) on shares of Monte Rosa Therapeutics in a report on Thursday, March 20th. Wells Fargo & Company lowered their price objective on shares of 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. Finally, Lifesci Capital began coverage on shares of Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price target on the 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.