Nantahala Capital Management LLC purchased a new stake in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 651,993 shares of the company's stock, valued at approximately $15,778,231. Nantahala Capital Management LLC owned 0.76% of Monte Rosa Therapeutics at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of GLUE. BlackRock Inc. purchased a new stake in Monte Rosa Therapeutics during the second quarter valued at $165,603,000. Price T Rowe Associates Inc. MD lifted its holdings in Monte Rosa Therapeutics by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,118,904 shares of the company's stock valued at $80,265,000 after acquiring an additional 481,844 shares during the period. Vanguard Group Inc. boosted its position in Monte Rosa Therapeutics by 8.6% in the fourth quarter. Vanguard Group Inc. now owns 3,246,500 shares of the company's stock worth $50,905,000 after purchasing an additional 257,547 shares during the last quarter. State Street Corp boosted its position in Monte Rosa Therapeutics by 148.9% in the fourth quarter. State Street Corp now owns 2,107,480 shares of the company's stock worth $33,045,000 after purchasing an additional 1,260,707 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of 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 period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, insider Filip Janku sold 30,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $21.42, for a total value of $642,600.00. Following the completion of the sale, the insider directly owned 59,992 shares of the company's stock, valued at $1,285,028.64. This represents a 33.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anthony M. Manning sold 10,000 shares of the firm's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $23.11, for a total transaction of $231,100.00. Following the sale, the director owned 10,000 shares in the company, valued at $231,100. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 79,603 shares of company stock worth $1,725,081 over the last ninety days. Company insiders own 6.40% of the company's stock.
Monte Rosa Therapeutics Stock Down 6.6%
NASDAQ GLUE opened at $13.38 on Friday. 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. The stock's 50-day moving average price is $19.72 and its 200-day moving average price is $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 analysts' consensus estimates of ($0.38) by ($0.05). The company 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%. Research analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.32 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on GLUE shares. Wedbush reduced their price target on shares of Monte Rosa Therapeutics from $37.00 to $27.00 and set an "outperform" rating for the company in a research report on Monday, August 3rd. Weiss Ratings downgraded shares of Monte Rosa Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. TD Cowen upgraded shares of Monte Rosa Therapeutics to a "strong-buy" rating in a research report on Monday, August 24th. Wells Fargo & Company reduced their target price on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Friday, August 7th. Finally, Zacks Research upgraded shares of Monte Rosa Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.50.
Get Our Latest Stock Report on GLUE
About Monte Rosa Therapeutics
(
Free Report)
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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