Bank of America Corp DE Raises Stock Position in Monte Rosa Therapeutics, Inc. $GLUE

Key Points

• Bank of America increased its Monte Rosa Therapeutics stake by 73.3% in the first quarter, holding 387,542 shares worth approximately $6.4 million. Institutional investors and hedge funds collectively own 79.96% of GLUE.
• GLUE traded down 1.2% to $14.38, well below its 50-day and 200-day moving averages. The company reported a quarterly EPS loss of $0.43 and revenue of $8.97 million, missing analyst expectations for both measures.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $28.50, although insiders sold approximately $1.73 million worth of shares over the past three months.

Bank of America Corp DE lifted its stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 73.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 387,542 shares of the company's stock after buying an additional 163,971 shares during the period. Bank of America Corp DE owned approximately 0.46% of Monte Rosa Therapeutics worth $6,375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Monte Rosa Therapeutics by 32.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company's stock valued at $50,000 after buying an additional 776 shares during the last quarter. Seven Fleet Capital Management LP acquired a new stake in shares of Monte Rosa Therapeutics in the 4th quarter worth $63,000. Russell Investments Group Ltd. purchased a new stake in shares of Monte Rosa Therapeutics in the third quarter valued at about $32,000. BNP Paribas Financial Markets lifted its position in Monte Rosa Therapeutics by 88.3% in the third quarter. BNP Paribas Financial Markets now owns 9,733 shares of the company's stock valued at $72,000 after purchasing an additional 4,565 shares during the period. Finally, Prelude Capital Management LLC purchased a new position in shares of Monte Rosa Therapeutics during the 3rd quarter worth approximately $76,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Monte Rosa Therapeutics Trading Down 1.2%

GLUE opened at $14.38 on Thursday. The business's 50 day moving average is $19.89 and its 200-day moving average is $18.71. The stock has a market cap of $1.23 billion, a PE ratio of -8.17 and a beta of 1.59. Monte Rosa Therapeutics, Inc. has a twelve month low of $4.60 and a twelve month high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.05). The business had revenue of $8.97 million during the quarter, compared to the consensus estimate of $12.91 million. Monte Rosa Therapeutics had a negative return on equity of 43.31% and a negative net margin of 560.85%. As a group, analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.32 EPS for the current year.

Wall Street Analyst Weigh In

GLUE has been the subject of a number of research analyst reports. Guggenheim restated a "buy" rating and issued a $28.00 price target on shares of Monte Rosa Therapeutics in a research report on Tuesday. TD Cowen upgraded Monte Rosa Therapeutics to a "strong-buy" rating in a report on Monday. Weiss Ratings cut shares of Monte Rosa Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. Jefferies Financial Group restated a "buy" rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. dropped their price target on Monte Rosa Therapeutics from $31.00 to $27.00 and set an "overweight" rating on the stock in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Monte Rosa Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $28.50.

Insider Activity at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, insider Sharon Townson sold 6,000 shares of the business's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $23.31, for a total transaction of $139,860.00. Following the sale, the insider directly owned 67,845 shares in the company, valued at approximately $1,581,466.95. The trade was a 8.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony M. Manning sold 10,000 shares of the company's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $23.11, for a total transaction of $231,100.00. Following the completion of the sale, the director directly owned 10,000 shares of the company's stock, valued at approximately $231,100. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 79,603 shares of company stock worth $1,725,081. 6.40% of the stock is owned by company insiders.

About Monte Rosa Therapeutics

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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