Hillsdale Investment Management Inc. Makes New $271,000 Investment in Monte Rosa Therapeutics, Inc. $GLUE

Hillsdale Investment Management Inc. acquired a new stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 60,100 shares of the company’s stock, valued at approximately $271,000. Hillsdale Investment Management Inc. owned 0.10% of Monte Rosa Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. BVF Inc. IL lifted its holdings in Monte Rosa Therapeutics by 104.7% during the 1st quarter. BVF Inc. IL now owns 5,660,132 shares of the company’s stock worth $26,263,000 after buying an additional 2,895,661 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Monte Rosa Therapeutics by 12.0% during the second quarter. Geode Capital Management LLC now owns 1,124,160 shares of the company’s stock worth $5,071,000 after acquiring an additional 120,098 shares during the period. Parkwood LLC raised its stake in shares of Monte Rosa Therapeutics by 119.2% in the first quarter. Parkwood LLC now owns 708,000 shares of the company’s stock valued at $3,285,000 after acquiring an additional 385,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Monte Rosa Therapeutics by 122.7% in the first quarter. Goldman Sachs Group Inc. now owns 356,112 shares of the company’s stock valued at $1,652,000 after purchasing an additional 196,238 shares during the period. Finally, AQR Capital Management LLC purchased a new position in Monte Rosa Therapeutics in the first quarter valued at $1,065,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Monte Rosa Therapeutics Price Performance

Shares of NASDAQ GLUE opened at $15.76 on Tuesday. The business has a 50-day moving average of $10.45 and a two-hundred day moving average of $6.77. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 49.25 and a beta of 1.61. Monte Rosa Therapeutics, Inc. has a 1 year low of $3.50 and a 1 year high of $16.66.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.06. The business had revenue of $12.77 million for the quarter, compared to analyst estimates of $7.37 million. Monte Rosa Therapeutics had a return on equity of 8.28% and a net margin of 11.54%. As a group, equities research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GLUE has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Monte Rosa Therapeutics in a research report on Friday, October 31st. Wells Fargo & Company raised their target price on shares of Monte Rosa Therapeutics from $10.00 to $13.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.33.

Monte Rosa Therapeutics Company 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.