ProShare Advisors LLC Buys New Shares in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

ProShare Advisors LLC acquired a new stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,541 shares of the company’s stock, valued at approximately $101,000.

A number of other hedge funds also recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its holdings in Monte Rosa Therapeutics by 192.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company’s stock worth $38,000 after acquiring an additional 3,584 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Monte Rosa Therapeutics during the 4th quarter worth approximately $43,000. Virtus ETF Advisers LLC acquired a new stake in Monte Rosa Therapeutics during the 4th quarter worth approximately $63,000. Focus Partners Wealth acquired a new stake in Monte Rosa Therapeutics during the 4th quarter worth approximately $77,000. Finally, Invesco Ltd. acquired a new stake in Monte Rosa Therapeutics during the 4th quarter worth approximately $89,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Activity at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, Director Chandra P. Leo bought 10,000 shares of the 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 purchase, the director now owns 10,000 shares in the company, valued at $58,400. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 6.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GLUE shares. Wells Fargo & Company decreased their price target 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. 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 objective for the company. Wall Street Zen cut shares of Monte Rosa Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Wedbush reissued an “outperform” rating and set a $17.00 target price (up previously from $15.00) on shares of Monte Rosa Therapeutics in a report on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Monte Rosa Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Monte Rosa Therapeutics Stock Up 3.1%

GLUE stock opened at $4.64 on Wednesday. The company has a market cap of $285.41 million, a PE ratio of -2.54 and a beta of 1.52. The business has a 50-day simple moving average of $4.34 and a 200 day simple moving average of $6.00. Monte Rosa Therapeutics, Inc. has a 52 week low of $3.21 and a 52 week high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.81. The company had revenue of $84.93 million during the quarter, compared to analyst estimates of $13.57 million. On average, analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

Monte Rosa Therapeutics 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.