The Manufacturers Life Insurance Company lifted its stake in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 55.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 209,801 shares of the company's stock after purchasing an additional 75,127 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.25% of Monte Rosa Therapeutics worth $3,451,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in GLUE. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Monte Rosa Therapeutics by 32.5% during the 4th 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. ProShare Advisors LLC increased its stake in 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. MetLife Investment Management LLC raised its holdings in Monte Rosa Therapeutics by 7.5% during 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. Allspring Global Investments Holdings LLC raised its holdings in Monte Rosa Therapeutics by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 26,955 shares of the company's stock worth $423,000 after purchasing an additional 2,358 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Monte Rosa Therapeutics by 18.5% during 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 in the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.
Monte Rosa Therapeutics Stock Up 1.1%
GLUE opened at $15.88 on Friday. The firm has a market cap of $1.34 billion, a P/E ratio of -9.02 and a beta of 1.59. The business's fifty day simple moving average is $20.53 and its 200 day simple moving average is $19.35. Monte Rosa Therapeutics, Inc. has a 52 week low of $4.12 and a 52 week high of $25.77.
Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its 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). The firm had revenue of $8.97 million during 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 48.30%. As a group, equities analysts expect that Monte Rosa Therapeutics, Inc. will post -1.23 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
GLUE has been the subject of a number of research analyst reports. Wedbush dropped their price target on 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. Wells Fargo & Company lowered their price objective on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Friday. Zacks Research upgraded shares of Monte Rosa Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday. Weiss Ratings upgraded shares of Monte Rosa Therapeutics from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Finally, Guggenheim reduced their price target on shares of Monte Rosa Therapeutics from $35.00 to $28.00 and set a "buy" rating on the stock in a report on Friday. Seven investment analysts have rated the stock with 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 has a consensus rating of "Moderate Buy" and a consensus price target of $28.50.
Read Our Latest Analysis on GLUE
Insider Activity
In related news, insider Sharon Townson sold 6,000 shares of the company's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $23.31, for a total transaction of $139,860.00. Following the transaction, the insider owned 67,845 shares of the company's stock, valued at approximately $1,581,466.95. This represents a 8.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anthony M. Manning sold 10,000 shares of Monte Rosa Therapeutics stock in a transaction that occurred on 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 directly owned 10,000 shares of the company's stock, valued at $231,100. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 81,778 shares of company stock worth $1,768,581. Corporate insiders own 6.40% of the company's stock.
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.
Featured Articles
Want to see what other hedge funds are holding GLUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Monte Rosa Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Monte Rosa Therapeutics wasn't on the list.
While Monte Rosa Therapeutics currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
