Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE – Get Free Report)’s stock price was down 8.9% during trading on Monday . The stock traded as low as $6.51 and last traded at $6.57. Approximately 121,832 shares changed hands during trading, a decline of 19% from the average daily volume of 150,530 shares. The stock had previously closed at $7.21.
Wall Street Analyst Weigh In
Separately, Wedbush assumed coverage on Monte Rosa Therapeutics in a research note on Thursday, February 15th. They set an “outperform” rating and a $11.00 price target for the company.
View Our Latest Report on GLUE
Monte Rosa Therapeutics Trading Down 8.9 %
Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.01). On average, analysts anticipate that Monte Rosa Therapeutics, Inc. will post -2.25 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its position in shares of Monte Rosa Therapeutics by 68.8% in the second 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 last quarter. Metropolitan Life Insurance Co NY bought a new stake in Monte Rosa Therapeutics during the first quarter worth approximately $30,000. Ameritas Investment Partners Inc. lifted its position in Monte Rosa Therapeutics by 152.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,241 shares of the company’s stock worth $31,000 after acquiring an additional 1,354 shares during the last quarter. Barclays PLC boosted its holdings in 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 during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Monte Rosa Therapeutics in the third quarter valued at about $66,000. Institutional investors and hedge funds own 79.96% 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.
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