The Manufacturers Life Insurance Company purchased a new position 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 Securities and Exchange Commission (SEC). The firm purchased 191,877 shares of the company's stock, valued at approximately $4,643,000. The Manufacturers Life Insurance Company owned approximately 0.22% of Monte Rosa Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently made changes to their positions in the business. ProShare Advisors LLC boosted its stake in shares of Monte Rosa Therapeutics by 11.8% in the 4th quarter. ProShare Advisors LLC now owns 11,374 shares of the company's stock valued at $178,000 after purchasing an additional 1,199 shares in the last quarter. Allworth Financial LP purchased a new position in Monte Rosa Therapeutics in the 2nd quarter worth $30,000. MetLife Investment Management LLC lifted its stake in Monte Rosa Therapeutics by 7.5% in the fourth quarter. MetLife Investment Management LLC now owns 26,187 shares of the company's stock worth $411,000 after purchasing an additional 1,831 shares during the last quarter. SG Americas Securities LLC lifted its stake in Monte Rosa Therapeutics by 18.5% in the first quarter. SG Americas Securities LLC now owns 20,468 shares of the company's stock worth $337,000 after purchasing an additional 3,189 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in Monte Rosa Therapeutics by 42.9% during the second quarter. Lazard Asset Management LLC now owns 10,857 shares of the company's stock valued at $48,000 after buying an additional 3,262 shares during the period. 79.96% of the stock is currently owned by institutional investors.
Insider Activity at Monte Rosa Therapeutics
In related news, insider Filip Janku sold 5,407 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $24.50, for a total value of $132,471.50. Following the completion of the transaction, the insider directly owned 60,612 shares of the company's stock, valued at $1,484,994. This represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony M. Manning sold 10,000 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $23.11, for a total transaction of $231,100.00. Following the completion of the sale, the director owned 10,000 shares of the company's stock, valued at $231,100. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 79,603 shares of company stock worth $1,725,081. 6.40% of the stock is currently owned by company insiders.
Monte Rosa Therapeutics Stock Up 4.2%
Shares of Monte Rosa Therapeutics stock opened at $13.94 on Tuesday. The business has a 50 day moving average of $19.62 and a 200 day moving average of $18.59. 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 cap of $1.19 billion, a PE ratio of -7.92 and a beta of 1.59.
Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last released its quarterly earnings results 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). Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. The company had revenue of $8.97 million during the quarter, compared to the consensus estimate of $12.91 million. On average, research analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.32 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages have recently issued reports on GLUE. JPMorgan Chase & Co. reduced their price objective on Monte Rosa Therapeutics from $31.00 to $27.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Wells Fargo & Company dropped their target price on Monte Rosa Therapeutics from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Friday, August 7th. Zacks Research upgraded Monte Rosa Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Wedbush reduced their price target on Monte Rosa Therapeutics from $37.00 to $27.00 and set an "outperform" rating on the stock in a research report on Monday, August 3rd. Finally, TD Cowen raised Monte Rosa Therapeutics to a "strong-buy" rating in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Monte Rosa Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $28.50.
Check Out Our Latest Research 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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