Rafferty Asset Management LLC Invests $192,000 in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

Rafferty Asset Management LLC acquired a new position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) during the fourth quarter, Holdings Channel reports. The fund acquired 27,698 shares of the company’s stock, valued at approximately $192,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLUE. Versant Venture Management LLC bought a new position in shares of Monte Rosa Therapeutics during the 4th quarter worth about $39,231,000. BVF Inc. IL bought a new position in shares of Monte Rosa Therapeutics during the 4th quarter worth about $19,185,000. Vanguard Group Inc. boosted its position in shares of Monte Rosa Therapeutics by 24.5% during the 4th quarter. Vanguard Group Inc. now owns 3,156,354 shares of the company’s stock worth $21,905,000 after purchasing an additional 622,134 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Monte Rosa Therapeutics by 7.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,116,637 shares of the company’s stock worth $49,391,000 after purchasing an additional 515,496 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Monte Rosa Therapeutics during the 4th quarter worth about $3,094,000. Institutional investors own 79.96% of the company’s stock.

Insiders Place Their Bets

In other news, Director Chandra P. Leo bought 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 transaction, the director now directly owns 10,000 shares in the company, valued at $58,400. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.90% of the company’s stock.

Monte Rosa Therapeutics Stock Performance

Shares of NASDAQ GLUE opened at $3.97 on Friday. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $12.40. The stock has a market cap of $244.19 million, a price-to-earnings ratio of -2.17 and a beta of 1.52. The firm’s 50-day simple moving average is $4.59 and its 200 day simple moving average is $6.25.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its earnings results on Thursday, May 8th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.81. The firm had revenue of $84.93 million for the quarter, compared to the consensus estimate of $13.57 million. On average, sell-side analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $17.00 price objective (up previously from $15.00) on shares of Monte Rosa Therapeutics in a research report on Thursday, March 20th. Wall Street Zen cut shares of Monte Rosa Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company dropped 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 initiated coverage on shares of Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Monte Rosa Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $15.50.

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.