Monte Rosa Therapeutics, Inc. $GLUE Shares Sold by Alphabet Inc.

Alphabet Inc. reduced its stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 49.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 744,948 shares of the company's stock after selling 719,067 shares during the period. Monte Rosa Therapeutics makes up approximately 0.5% of Alphabet Inc.'s portfolio, making the stock its 15th biggest position. Alphabet Inc. owned about 1.14% of Monte Rosa Therapeutics worth $11,681,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in Monte Rosa Therapeutics in the fourth quarter valued at approximately $30,000. Nisa Investment Advisors LLC raised its stake in shares of Monte Rosa Therapeutics by 16.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,151 shares of the company's stock worth $49,000 after purchasing an additional 451 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in 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 worth $50,000 after acquiring an additional 776 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Monte Rosa Therapeutics in the third quarter worth $32,000. Finally, BNP Paribas Financial Markets increased its position in shares of 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 buying an additional 4,565 shares in the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on GLUE. Wells Fargo & Company decreased their price objective on Monte Rosa Therapeutics from $30.00 to $29.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 18th. JPMorgan Chase & Co. lifted their price objective on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Guggenheim lowered their price target on shares of Monte Rosa Therapeutics from $34.00 to $30.00 and set a "buy" rating for the company in a report on Wednesday, March 18th. Wall Street Zen lowered shares of Monte Rosa Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, March 21st. Finally, Weiss Ratings upgraded Monte Rosa Therapeutics from a "sell (d-)" rating to a "sell (d)" rating in a report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $32.50.

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, insider Philip Nickson sold 5,845 shares of the business's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $17.69, for a total transaction of $103,398.05. Following the transaction, the insider owned 55,000 shares of the company's stock, valued at $972,950. The trade was a 9.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer Champoux sold 2,175 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $20.00, for a total value of $43,500.00. Following the sale, the chief operating officer owned 62,371 shares of the company's stock, valued at approximately $1,247,420. This represents a 3.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 6.40% of the company's stock.

Monte Rosa Therapeutics Stock Up 6.7%

Monte Rosa Therapeutics stock opened at $18.24 on Friday. The business has a 50 day moving average price of $18.54 and a two-hundred day moving average price of $18.41. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -12.32 and a beta of 1.60. Monte Rosa Therapeutics, Inc. has a 12 month low of $4.12 and a 12 month high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last issued 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 company had revenue of $4.21 million during the quarter, compared to analyst estimates of $10.95 million. Monte Rosa Therapeutics had a negative return on equity of 40.99% and a negative net margin of 302.69%. On average, analysts expect that Monte Rosa Therapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

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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