Wellington Management Group LLP Buys 78,635 Shares of Monte Rosa Therapeutics, Inc. $GLUE

Key Points

• Wellington Management increased its Monte Rosa Therapeutics position by 61.1% in the second quarter, buying 78,635 shares and bringing its total to 207,427 shares valued at approximately $5.02 million. Institutional investors collectively own 79.96% of the company.
• Company insiders sold 79,603 shares worth $1.73 million during the last quarter, while insider ownership stands at 6.40%. Filip Janku sold 30,000 shares and COO Jennifer Champoux sold 2,176 shares.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $28.50 price target. However, Monte Rosa recently reported a quarterly loss of $0.43 per share and revenue of $8.97 million, both worse than analysts’ expectations.

Wellington Management Group LLP grew its position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 61.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,427 shares of the company's stock after purchasing an additional 78,635 shares during the period. Wellington Management Group LLP owned approximately 0.24% of Monte Rosa Therapeutics worth $5,020,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in Monte Rosa Therapeutics during the first quarter valued at approximately $1,065,000. Goldman Sachs Group Inc. grew its holdings in Monte Rosa Therapeutics by 122.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 356,112 shares of the company's stock valued at $1,652,000 after buying an additional 196,238 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Monte Rosa Therapeutics during the 1st quarter valued at approximately $76,000. Geode Capital Management LLC increased its stake in Monte Rosa Therapeutics by 12.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,124,160 shares of the company's stock worth $5,071,000 after acquiring an additional 120,098 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Monte Rosa Therapeutics by 301.4% in the 2nd quarter. American Century Companies Inc. now owns 403,045 shares of the company's stock worth $1,818,000 after acquiring an additional 302,639 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Filip Janku sold 30,000 shares of the company's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $21.42, for a total transaction of $642,600.00. Following the transaction, the insider directly owned 59,992 shares in the company, valued at approximately $1,285,028.64. This represents a 33.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jennifer Champoux sold 2,176 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $19.00, for a total value of $41,344.00. Following the completion of the sale, the chief operating officer owned 62,371 shares in the company, valued at approximately $1,185,049. The trade was a 3.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 79,603 shares of company stock valued at $1,725,081 in the last quarter. 6.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GLUE has been the subject of a number of research reports. Guggenheim reiterated a "buy" rating and set a $28.00 target price on shares of Monte Rosa Therapeutics in a research report on Tuesday, August 25th. JPMorgan Chase & Co. decreased their price target on shares of 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. Weiss Ratings lowered shares of Monte Rosa Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research 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. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Monte Rosa Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $28.50.

Monte Rosa Therapeutics Stock Performance

NASDAQ:GLUE opened at $14.26 on Thursday. The firm has a market capitalization of $1.22 billion, a PE ratio of -8.10 and a beta of 1.50. The stock's fifty day moving average is $18.45 and its 200 day moving average is $18.37. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $4.79 and a fifty-two week high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.05). Monte Rosa Therapeutics had a negative return on equity of 43.31% and a negative net margin of 560.85%.The firm had revenue of $8.97 million for the quarter, compared to analysts' expectations of $12.91 million. Equities analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.32 EPS for the current 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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