Empowered Funds LLC Purchases Shares of 329,266 Monte Rosa Therapeutics, Inc. $GLUE

Key Points

• Empowered Funds LLC acquired 329,266 shares of Monte Rosa Therapeutics worth approximately $7.97 million, representing about 0.39% of the company. Institutional investors collectively own 79.96% of GLUE.
• Monte Rosa shares opened at $13.38 after declining 6.6%, well below their 12-month high of $25.77. The company missed quarterly earnings and revenue expectations, reporting an adjusted loss of $0.43 per share on $8.97 million in revenue.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $28.50 target price, although several firms recently lowered their targets to $27. Insiders have sold 79,603 shares worth approximately $1.73 million over the past 90 days.

Empowered Funds LLC acquired a new stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 329,266 shares of the company's stock, valued at approximately $7,968,000. Empowered Funds LLC owned approximately 0.39% of Monte Rosa Therapeutics as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Corient Private Wealth LP bought a new stake in Monte Rosa Therapeutics during the 2nd quarter valued at approximately $463,000. Bank of America Corp DE bought a new position in Monte Rosa Therapeutics in the 2nd quarter worth approximately $6,160,000. Boone Capital Management LLC purchased a new stake in Monte Rosa Therapeutics during the 2nd quarter valued at approximately $14,890,000. Jupiter Topco LLC purchased a new stake in Monte Rosa Therapeutics during the 2nd quarter valued at approximately $25,965,000. Finally, J. Goldman & Co LP bought a new stake in shares of Monte Rosa Therapeutics during the second quarter valued at approximately $366,000. Institutional investors own 79.96% of the company's stock.

Monte Rosa Therapeutics Trading Down 6.6%

GLUE stock opened at $13.38 on Friday. The stock has a market cap of $1.14 billion, a PE ratio of -7.60 and a beta of 1.59. Monte Rosa Therapeutics, Inc. has a 12 month low of $4.60 and a 12 month high of $25.77. The company has a 50-day moving average price of $19.72 and a 200 day moving average price of $18.63.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its quarterly earnings data 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 return on equity of 43.31% and a negative net margin of 560.85%.The firm had revenue of $8.97 million during the quarter, compared to the consensus estimate of $12.91 million. Sell-side analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.32 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Guggenheim reaffirmed a "buy" rating and set a $28.00 target price on shares of Monte Rosa Therapeutics in a research note on Tuesday, August 25th. JPMorgan Chase & Co. decreased their price objective on Monte Rosa Therapeutics from $31.00 to $27.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Wedbush cut their target price on shares of Monte Rosa Therapeutics from $37.00 to $27.00 and set an "outperform" rating for the company in a report on Monday, August 3rd. TD Cowen upgraded shares of Monte Rosa Therapeutics to a "strong-buy" rating in a research report on Monday, August 24th. Finally, Wells Fargo & Company dropped their price target on 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 research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Monte Rosa Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.50.

Insiders Place Their Bets

In other Monte Rosa Therapeutics news, insider Sharon Townson sold 6,000 shares of the company's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $23.31, for a total value of $139,860.00. Following the transaction, the insider owned 67,845 shares of the company's stock, valued at $1,581,466.95. This represents a 8.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Filip Janku sold 30,000 shares of Monte Rosa Therapeutics stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $21.42, for a total value of $642,600.00. Following the sale, the insider owned 59,992 shares of the company's stock, valued at approximately $1,285,028.64. This trade represents a 33.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 79,603 shares of company stock worth $1,725,081 in the last 90 days. 6.40% of the stock is owned by insiders.

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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