Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Stock Position Reduced by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lessened its position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 36.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,928 shares of the company’s stock after selling 10,870 shares during the period. Exchange Traded Concepts LLC’s holdings in Monte Rosa Therapeutics were worth $88,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Franklin Resources Inc. bought a new stake in Monte Rosa Therapeutics during the 4th quarter valued at $191,000. Charles Schwab Investment Management Inc. grew its holdings 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 worth $2,571,000 after acquiring an additional 23,974 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Monte Rosa Therapeutics by 17.8% during the fourth quarter. Rhumbline Advisers now owns 61,791 shares of the company’s stock valued at $429,000 after buying an additional 9,323 shares in the last quarter. ProShare Advisors LLC purchased a new position in shares of Monte Rosa Therapeutics during the fourth quarter valued at $101,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Monte Rosa Therapeutics during the fourth quarter valued at $220,000. Institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Trading Up 2.2%

GLUE stock opened at $4.74 on Wednesday. The firm has a market cap of $291.56 million, a P/E ratio of 59.26 and a beta of 1.41. Monte Rosa Therapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $12.40. The business’s 50 day moving average is $4.50 and its 200-day moving average is $5.56.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.81. Monte Rosa Therapeutics had a return on equity of 2.65% and a net margin of 3.86%. The business had revenue of $84.93 million for the quarter, compared to analyst estimates of $13.57 million. Sell-side analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on GLUE. Wall Street Zen cut Monte Rosa Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Wells Fargo & Company cut their price objective on Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Lifesci Capital initiated coverage on Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price target on the stock. Finally, Wedbush restated an “outperform” rating and set a $17.00 price target (up from $15.00) on shares of Monte Rosa Therapeutics in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Monte Rosa Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $15.50.

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.