Monte Rosa Therapeutics, Inc. $GLUE Shares Newly Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 254,561 shares of Monte Rosa Therapeutics, worth approximately $6.16 million, giving it a 0.30% stake. Institutional investors collectively own nearly 80% of the company.
• Monte Rosa reported a quarterly loss of $0.43 per share, missing estimates by $0.05, while revenue of $8.97 million fell short of the $12.91 million consensus forecast.
• Analyst sentiment remains moderately bullish, with an average rating of “Moderate Buy” and a $28.50 price target, although the stock recently traded at $11.77 versus a 52-week high of $25.77.

Bank of America Corp DE purchased a new position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 254,561 shares of the company's stock, valued at approximately $6,160,000. Bank of America Corp DE owned approximately 0.30% of Monte Rosa Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Monte Rosa Therapeutics during the 2nd quarter valued at approximately $165,603,000. Jupiter Topco LLC purchased a new position in Monte Rosa Therapeutics in the 2nd quarter worth $25,965,000. Janus Henderson Group PLC acquired a new stake in Monte Rosa Therapeutics during the 1st quarter worth about $11,294,000. Boone Capital Management LLC purchased a new stake in Monte Rosa Therapeutics during the 2nd quarter valued at about $14,890,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Monte Rosa Therapeutics by 83.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,041,372 shares of the company's stock valued at $17,125,000 after purchasing an additional 473,005 shares during the period. Institutional investors and hedge funds own 79.96% of the company's stock.

Monte Rosa Therapeutics Price Performance

GLUE stock opened at $11.77 on Monday. Monte Rosa Therapeutics, Inc. has a 52 week low of $6.53 and a 52 week high of $25.77. The firm has a 50-day simple moving average of $15.82 and a 200-day simple moving average of $17.90. The stock has a market capitalization of $1.00 billion, a P/E ratio of -6.69 and a beta of 1.50.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.05). The firm had revenue of $8.97 million for the quarter, compared to analyst estimates of $12.91 million. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. On average, analysts expect that Monte Rosa Therapeutics, Inc. will post -1.04 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on GLUE. TD Cowen upgraded shares of Monte Rosa Therapeutics to a "strong-buy" rating in a report on Monday, August 24th. Weiss Ratings lowered shares of Monte Rosa Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Zacks Research upgraded Monte Rosa Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Wells Fargo & Company dropped their target price on Monte Rosa Therapeutics from $29.00 to $27.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently 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 Filip Janku sold 5,407 shares of the company's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $24.50, for a total value of $132,471.50. Following the completion of the sale, the insider directly owned 60,612 shares in the company, valued at $1,484,994. This represents a 8.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sharon Townson sold 6,000 shares of the firm'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 completion of the sale, the insider directly owned 67,845 shares of the company's stock, valued at $1,581,466.95. This trade represents a 8.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.40% of the stock is currently owned by company insiders.

Monte Rosa Therapeutics Company Profile

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company developing small-molecule medicines designed to selectively eliminate disease-causing proteins. The company uses its proprietary Tunable Molecular Glue (TME) platform to identify molecular glue degraders that redirect the cell's natural protein-degradation machinery toward specific therapeutic targets.

Monte Rosa's research and development programs address areas including autoimmune and inflammatory diseases, as well as cancer.

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