615,287 Shares in Monte Rosa Therapeutics, Inc. $GLUE Acquired by Boone Capital Management LLC

Boone Capital Management LLC bought a new position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 615,287 shares of the company's stock, valued at approximately $14,890,000. Monte Rosa Therapeutics accounts for 3.5% of Boone Capital Management LLC's holdings, making the stock its 11th largest position. Boone Capital Management LLC owned 0.72% of Monte Rosa Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. AQR Capital Management LLC bought a new position in shares of Monte Rosa Therapeutics in the 1st quarter worth $1,065,000. Goldman Sachs Group Inc. lifted its stake in shares of Monte Rosa Therapeutics by 122.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 356,112 shares of the company's stock worth $1,652,000 after purchasing an additional 196,238 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Monte Rosa Therapeutics during the 1st quarter worth $76,000. Geode Capital Management LLC boosted its position in 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 valued at $5,071,000 after purchasing an additional 120,098 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Monte Rosa Therapeutics by 301.4% during the second quarter. American Century Companies Inc. now owns 403,045 shares of the company's stock valued at $1,818,000 after purchasing an additional 302,639 shares in the last quarter. Institutional investors own 79.96% of the company's stock.

Monte Rosa Therapeutics Price Performance

Monte Rosa Therapeutics stock opened at $14.38 on Thursday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -8.17 and a beta of 1.59. Monte Rosa Therapeutics, Inc. has a 1-year low of $4.60 and a 1-year high of $25.77. The business has a fifty day moving average price of $19.89 and a 200-day moving average price of $18.71.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.05). Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. The business had revenue of $8.97 million for the quarter, compared to analyst estimates of $12.91 million. On average, equities research analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Anthony M. Manning sold 10,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $23.11, for a total value of $231,100.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company's stock, valued at $231,100. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Filip Janku sold 5,407 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $24.50, for a total transaction of $132,471.50. Following the completion of the transaction, the insider directly owned 60,612 shares of the company's stock, valued at $1,484,994. The trade was a 8.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 79,603 shares of company stock worth $1,725,081 in the last three months. Insiders own 6.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GLUE shares. Guggenheim reiterated a "buy" rating and issued a $28.00 target price on shares of Monte Rosa Therapeutics in a report on Tuesday. TD Cowen upgraded shares of Monte Rosa Therapeutics to a "strong-buy" rating in a report on Monday. Jefferies Financial Group restated a "buy" rating on shares of Monte Rosa Therapeutics in a report on Monday, July 27th. Zacks Research raised shares of Monte Rosa Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Wells Fargo & Company reduced their price objective on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.50.

Monte Rosa Therapeutics Profile

Monte Rosa Therapeutics is a biotechnology company focused on accelerating drug discovery through the integration of single-cell genomics and artificial intelligence. Founded in 2020 and headquartered in Cambridge, Massachusetts, the company has built a proprietary platform designed to identify novel therapeutic targets and optimize lead candidates for areas of high unmet medical need. By combining cutting-edge computational methods with comprehensive cellular profiling, Monte Rosa aims to streamline the preclinical development process and uncover insights into disease biology that might otherwise remain hidden.

The company's main business activities center on using its AI-driven discovery engine to pursue programs in immuno-oncology and neuroscience.

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