61,100 Shares in Monte Rosa Therapeutics, Inc. $GLUE Bought by Swiss National Bank

Swiss National Bank bought a new stake in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 61,100 shares of the company’s stock, valued at approximately $1,005,000.

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp grew its position in Monte Rosa Therapeutics by 148.9% in the 4th 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. MPM Bioimpact LLC acquired a new position in shares of Monte Rosa Therapeutics during the fourth quarter valued at about $18,399,000. AQR Capital Management LLC raised its position in shares of Monte Rosa Therapeutics by 459.4% during the second quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company’s stock valued at $5,791,000 after buying an additional 1,054,406 shares during the last quarter. Braidwell LP bought a new stake in shares of Monte Rosa Therapeutics in the fourth quarter valued at about $14,870,000. Finally, Vestal Point Capital LP bought a new stake in shares of Monte Rosa Therapeutics in the third quarter valued at about $5,928,000. 79.96% of the stock is owned by institutional investors.

Monte Rosa Therapeutics Stock Performance

NASDAQ:GLUE opened at $16.52 on Friday. The company has a 50-day moving average of $20.88 and a 200-day moving average of $19.63. Monte Rosa Therapeutics, Inc. has a 52 week low of $4.12 and a 52 week high of $25.77. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -11.16 and a beta of 1.56.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its earnings results on Thursday, May 7th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The business had revenue of $4.21 million during the quarter, compared to the consensus estimate of $10.95 million. Monte Rosa Therapeutics had a negative net margin of 302.69% and a negative return on equity of 40.99%. Sell-side analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.23 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GLUE. Zacks Research lowered Monte Rosa Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Guggenheim raised their price objective on Monte Rosa Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Jefferies Financial Group reissued a “buy” rating on shares of Monte Rosa Therapeutics in a report on Monday. JPMorgan Chase & Co. lifted their price objective on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Weiss Ratings upgraded Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Insider Buying and Selling at Monte Rosa Therapeutics

In other news, Director Anthony M. Manning sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $23.11, for a total value of $231,100.00. Following the sale, the director directly owned 10,000 shares in the company, valued at approximately $231,100. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jennifer Champoux sold 2,176 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 62,371 shares of the company’s stock, valued at approximately $1,185,049. The trade was a 3.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 81,778 shares of company stock worth $1,768,581 in the last three months. 6.40% of the stock is currently owned by company insiders.

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.