Monte Rosa Therapeutics, Inc. $GLUE is Versant Venture Management LLC's Largest Position

Key Points

• Versant Venture Management cut its Monte Rosa Therapeutics stake by 27.4% in the first quarter, but GLUE remains its largest holding, making up about 37% of the portfolio. The firm still owned 3.18 million shares worth about $52.3 million.
• Several other institutional investors also made major moves in the stock, and institutions now own nearly 80% of Monte Rosa Therapeutics. Notable buyers included State Street, AQR Capital, and MPM Bioimpact.
• Analyst sentiment is mixed but still leans positive, with a consensus rating of Moderate Buy and an average target price of $33.33. Meanwhile, the company missed last quarter’s EPS and revenue estimates, even as the stock traded near its 52-week high.

Versant Venture Management LLC trimmed its holdings in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 27.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,180,780 shares of the company's stock after selling 1,201,907 shares during the period. Monte Rosa Therapeutics comprises about 37.0% of Versant Venture Management LLC's investment portfolio, making the stock its biggest position. Versant Venture Management LLC owned about 3.77% of Monte Rosa Therapeutics worth $52,324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its position in shares of Monte Rosa Therapeutics by 148.9% during the fourth quarter. State Street Corp now owns 2,107,480 shares of the company's stock valued at $33,045,000 after purchasing an additional 1,260,707 shares in the last quarter. MPM Bioimpact LLC purchased a new position in Monte Rosa Therapeutics during the fourth quarter worth $18,399,000. AQR Capital Management LLC grew its holdings in Monte Rosa Therapeutics by 459.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company's stock valued at $5,791,000 after purchasing an additional 1,054,406 shares during the last quarter. Braidwell LP purchased a new stake in shares of Monte Rosa Therapeutics in the fourth quarter worth approximately $14,870,000. Finally, Vestal Point Capital LP bought a new stake in shares of Monte Rosa Therapeutics during the 3rd quarter worth approximately $5,928,000. Institutional investors own 79.96% of the company's stock.

Insider Activity

In related news, COO Jennifer Champoux sold 2,176 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $19.00, for a total value of $41,344.00. Following the completion of the transaction, the chief operating officer owned 62,371 shares of the company's stock, valued at approximately $1,185,049. This represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the director owned 10,000 shares in the company, valued at $231,100. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 81,778 shares of company stock valued at $1,768,581 in the last quarter. Company insiders own 6.40% of the company's stock.

Analyst Upgrades and Downgrades

GLUE has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of Monte Rosa Therapeutics from $30.00 to $29.00 and set an "overweight" rating for the company in a research note on Wednesday, March 18th. Guggenheim boosted their price target on Monte Rosa Therapeutics from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. increased their target price on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. Weiss Ratings upgraded shares of Monte Rosa Therapeutics from a "sell (d-)" rating to a "sell (d)" rating in a research note on Monday, May 11th. Finally, Zacks Research lowered Monte Rosa Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.33.

Monte Rosa Therapeutics Price Performance

NASDAQ:GLUE opened at $23.41 on Thursday. The firm has a market capitalization of $1.98 billion, a P/E ratio of -15.82 and a beta of 1.56. Monte Rosa Therapeutics, Inc. has a 1-year low of $4.12 and a 1-year high of $25.77. The company's fifty day moving average price is $20.01 and its 200-day moving average price is $19.27.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.06). The business had revenue of $4.21 million for the quarter, compared to analyst estimates of $10.95 million. Monte Rosa Therapeutics had a negative net margin of 302.69% and a negative return on equity of 40.99%. Equities analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.23 EPS for the current fiscal year.

Monte Rosa Therapeutics Company 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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