Cubist Systematic Strategies LLC Makes New $644,000 Investment in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Cubist Systematic Strategies LLC acquired a new position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 92,818 shares of the company’s stock, valued at approximately $644,000. Cubist Systematic Strategies LLC owned 0.15% of Monte Rosa Therapeutics as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in shares of 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 valued at $38,000 after acquiring an additional 3,584 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Monte Rosa Therapeutics by 2.2% in the 4th quarter. Bank of New York Mellon Corp now owns 170,312 shares of the company’s stock worth $1,182,000 after acquiring an additional 3,619 shares during the period. Wellington Management Group LLP raised its holdings in Monte Rosa Therapeutics by 2.2% in the 4th quarter. Wellington Management Group LLP now owns 221,741 shares of the company’s stock worth $1,539,000 after acquiring an additional 4,740 shares during the period. JPMorgan Chase & Co. raised its holdings in Monte Rosa Therapeutics by 38.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company’s stock worth $98,000 after acquiring an additional 5,125 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Monte Rosa Therapeutics by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 144,811 shares of the company’s stock worth $1,005,000 after purchasing an additional 5,538 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insider Buying and Selling

In other news, Director Chandra P. Leo purchased 10,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $5.84 per share, with a total value of $58,400.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $58,400. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wedbush restated 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 reduced their price target on shares of Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Finally, Lifesci Capital assumed coverage on Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 price objective on the stock.

Monte Rosa Therapeutics Stock Up 4.6%

NASDAQ:GLUE opened at $3.87 on Friday. Monte Rosa Therapeutics, Inc. has a 12-month low of $3.21 and a 12-month high of $12.40. The firm has a market capitalization of $238.04 million, a P/E ratio of -2.11 and a beta of 1.52. The stock’s fifty day simple moving average is $4.88 and its 200-day simple moving average is $6.46.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.81. The business had revenue of $84.93 million for the quarter, compared to analyst estimates of $13.57 million. As a group, equities research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current 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.