BlackRock Inc. Purchases New Shares in Monte Rosa Therapeutics, Inc. $GLUE

Key Points

• BlackRock acquired 6.84 million shares of Monte Rosa Therapeutics in the second quarter, worth approximately $165.6 million and representing an 8.1% stake. Institutional investors collectively own nearly 80% of the company.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $28.50, despite several recent target-price reductions to $27.
• Monte Rosa reported weaker-than-expected quarterly results, including an adjusted loss of $0.43 per share versus the $0.38 consensus estimate and revenue of $8.97 million versus $12.91 million expected. Shares opened at $13.38, well below their 52-week high of $25.77.

BlackRock Inc. purchased a new position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,843,087 shares of the company's stock, valued at approximately $165,603,000. BlackRock Inc. owned approximately 8.10% of Monte Rosa Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pallas Capital Advisors LLC purchased a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter valued at approximately $221,000. Deutsche Bank AG purchased a new position in Monte Rosa Therapeutics during the 2nd quarter worth approximately $1,816,000. Alphabet Inc. acquired a new stake in Monte Rosa Therapeutics during the 2nd quarter valued at $9,014,000. Wealth Effects LLC acquired a new stake in Monte Rosa Therapeutics during the 2nd quarter valued at $244,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Monte Rosa Therapeutics in the second quarter valued at $5,385,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GLUE shares. Zacks Research upgraded Monte Rosa Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. reduced their price objective on Monte Rosa Therapeutics from $31.00 to $27.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. Weiss Ratings lowered Monte Rosa Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. Wedbush dropped their target price on Monte Rosa Therapeutics from $37.00 to $27.00 and set an "outperform" rating on the stock in a report on Monday, August 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Monte Rosa Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $28.50.

Monte Rosa Therapeutics Stock Performance

NASDAQ:GLUE opened at $13.38 on Friday. The stock's 50 day moving average price is $19.72 and its 200 day moving average price is $18.63. Monte Rosa Therapeutics, Inc. has a 52 week low of $4.60 and a 52 week high of $25.77. The company has a market capitalization of $1.14 billion, a P/E ratio of -7.60 and a beta of 1.59.

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 for the quarter, missing the consensus estimate of ($0.38) by ($0.05). The business had revenue of $8.97 million for the quarter, compared to the consensus estimate of $12.91 million. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. As a group, sell-side analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Monte Rosa Therapeutics

In other news, COO Jennifer Champoux sold 2,175 shares of the company's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $20.00, for a total transaction of $43,500.00. Following the completion of the sale, the chief operating officer owned 62,371 shares in the company, valued at approximately $1,247,420. This represents a 3.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sharon Townson sold 6,000 shares of the company's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $23.31, for a total value of $139,860.00. Following the sale, the insider owned 67,845 shares of the company's stock, valued at approximately $1,581,466.95. This trade represents a 8.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 79,603 shares of company stock valued at $1,725,081. Company insiders own 6.40% of the company's stock.

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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