AlphaQuest LLC Makes New $657,000 Investment in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

AlphaQuest LLC purchased a new position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 94,633 shares of the company’s stock, valued at approximately $657,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Ikarian Capital LLC acquired a new stake in shares of Monte Rosa Therapeutics in the third quarter valued at $1,651,000. Geode Capital Management LLC lifted its holdings in shares of Monte Rosa Therapeutics by 23.3% in the third quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock valued at $5,538,000 after buying an additional 197,247 shares during the period. State Street Corp lifted its holdings in shares of Monte Rosa Therapeutics by 8.1% in the third quarter. State Street Corp now owns 687,577 shares of the company’s stock valued at $3,644,000 after buying an additional 51,493 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Monte Rosa Therapeutics by 30.2% in the third quarter. Wellington Management Group LLP now owns 217,001 shares of the company’s stock valued at $1,150,000 after buying an additional 50,330 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Monte Rosa Therapeutics by 395.1% in the third quarter. Barclays PLC now owns 54,508 shares of the company’s stock valued at $289,000 after buying an additional 43,499 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company lowered Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $14.00 to $11.00 in a report on Thursday, December 19th.

Monte Rosa Therapeutics Stock Up 1.3 %

Shares of Monte Rosa Therapeutics stock opened at $6.11 on Wednesday. The business has a fifty day simple moving average of $6.18 and a 200-day simple moving average of $6.77. The firm has a market cap of $375.38 million, a price-to-earnings ratio of -3.34 and a beta of 1.50. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $12.40.

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.