Opaleye Management Inc. Acquires Shares of 745,000 Monte Rosa Therapeutics, Inc. $GLUE

Key Points

• Opaleye Management acquired 745,000 shares of Monte Rosa Therapeutics worth approximately $18.0 million, giving it a 0.87% stake and making GLUE its 17th-largest portfolio holding. Institutional investors collectively own nearly 80% of the company.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a consensus price target of $28.50, despite Wells Fargo lowering its target to $27.
• Monte Rosa reported weaker-than-expected quarterly results, including an adjusted loss of $0.43 per share versus the $0.38 estimate and revenue of $8.97 million versus $12.91 million expected. Insiders also sold $1.73 million of stock over the past three months.

Opaleye Management Inc. purchased a new stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 745,000 shares of the company's stock, valued at approximately $18,029,000. Monte Rosa Therapeutics comprises approximately 1.6% of Opaleye Management Inc.'s investment portfolio, making the stock its 17th biggest position. Opaleye Management Inc. owned 0.87% of Monte Rosa Therapeutics at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP acquired a new stake in shares of Monte Rosa Therapeutics during the 2nd quarter valued at about $30,000. Seven Fleet Capital Management LP acquired a new position in Monte Rosa Therapeutics in the 4th quarter valued at $63,000. Russell Investments Group Ltd. purchased a new position in shares of Monte Rosa Therapeutics in the third quarter worth about $32,000. E Fund Management Co. Ltd. purchased a new position in Monte Rosa Therapeutics in the 2nd quarter worth approximately $200,000. Finally, Pallas Capital Advisors LLC acquired a new position in Monte Rosa Therapeutics during the second quarter worth $221,000. Hedge funds and other institutional investors own 79.96% of the company's stock.

Insiders Place Their Bets

In related news, Director Anthony Manning sold 10,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $23.11, for a total value of $231,100.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $231,100. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jennifer Champoux sold 2,176 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $19.00, for a total transaction of $41,344.00. Following the sale, the chief operating officer owned 62,371 shares in the company, valued at $1,185,049. This trade represents a 3.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 79,603 shares of company stock valued at $1,725,081 over the last three months. 6.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company cut their price objective 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. Wedbush reaffirmed an "outperform" rating and issued a $27.00 price objective on shares of Monte Rosa Therapeutics in a report on Wednesday. Guggenheim restated a "buy" rating and set a $28.00 target price on shares of Monte Rosa Therapeutics in a research report on Tuesday, August 25th. Jefferies Financial Group reiterated a "buy" rating on shares of Monte Rosa Therapeutics in a report on Monday, July 27th. Finally, TD Cowen raised Monte Rosa Therapeutics to a "strong-buy" rating in a research report on Monday, August 24th. One equities 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 assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.50.

Monte Rosa Therapeutics Trading Up 0.4%

NASDAQ:GLUE opened at $14.32 on Friday. Monte Rosa Therapeutics, Inc. has a 52 week low of $4.80 and a 52 week high of $25.77. The stock has a 50 day moving average of $18.25 and a 200-day moving average of $18.34. The firm has a market capitalization of $1.22 billion, a PE ratio of -8.14 and a beta of 1.50.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.05). The firm had revenue of $8.97 million during 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%. As a group, analysts predict that Monte Rosa Therapeutics, Inc. will post -1.2 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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