AlphaQuest LLC Takes $657,000 Position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)

AlphaQuest LLC purchased a new stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 94,633 shares of the company’s stock, valued at approximately $657,000. AlphaQuest LLC owned about 0.15% of Monte Rosa Therapeutics at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Monte Rosa Therapeutics by 10,665.5% in the 4th quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock valued at $41,000 after acquiring an additional 5,866 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Monte Rosa Therapeutics in the 3rd quarter valued at approximately $77,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Monte Rosa Therapeutics in the 4th quarter valued at approximately $90,000. Janney Montgomery Scott LLC bought a new stake in shares of Monte Rosa Therapeutics in the 4th quarter valued at approximately $92,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Monte Rosa Therapeutics by 38.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company’s stock valued at $98,000 after acquiring an additional 5,125 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Monte Rosa Therapeutics Price Performance

Shares of GLUE opened at $6.11 on Wednesday. The company has a market cap of $375.38 million, a P/E ratio of -3.34 and a beta of 1.50. The stock has a fifty day moving average price of $6.18 and a 200 day moving average price of $6.77. Monte Rosa Therapeutics, Inc. has a 12 month low of $3.21 and a 12 month high of $12.40.

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.