Boone Capital Management LLC Buys New Shares in Monte Rosa Therapeutics, Inc. $GLUE

Boone Capital Management LLC bought a new position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 615,287 shares of the company’s stock, valued at approximately $14,890,000. Monte Rosa Therapeutics comprises 3.5% of Boone Capital Management LLC’s portfolio, making the stock its 11th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jupiter Topco LLC acquired a new stake in Monte Rosa Therapeutics during the 2nd quarter worth about $25,965,000. J. Goldman & Co LP acquired a new position in shares of Monte Rosa Therapeutics in the second quarter valued at about $366,000. ADAR1 Capital Management LLC acquired a new position in shares of Monte Rosa Therapeutics in the second quarter valued at about $5,245,000. Legal & General Group Plc purchased a new position in shares of Monte Rosa Therapeutics in the second quarter worth about $977,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Monte Rosa Therapeutics in the second quarter worth about $4,643,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Monte Rosa Therapeutics Trading Down 1.2%

Shares of NASDAQ:GLUE opened at $14.38 on Thursday. Monte Rosa Therapeutics, Inc. has a 12-month low of $4.60 and a 12-month high of $25.77. The business has a 50 day moving average of $19.89 and a two-hundred day moving average of $18.71. The company has a market capitalization of $1.23 billion, a PE ratio of -8.17 and a beta of 1.59.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). The firm had revenue of $8.97 million for the quarter, compared to analyst estimates of $12.91 million. Monte Rosa Therapeutics had a negative return on equity of 43.31% and a negative net margin of 560.85%. Equities research analysts predict that Monte Rosa Therapeutics, Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity

In other Monte Rosa Therapeutics news, Director Anthony M. Manning sold 10,000 shares of Monte Rosa Therapeutics stock in a transaction on 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 of the company’s stock, valued at approximately $231,100. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jennifer Champoux sold 2,176 shares of the company’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 completion of the transaction, the chief operating officer owned 62,371 shares of the company’s stock, valued at approximately $1,185,049. This trade represents a 3.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 79,603 shares of company stock valued at $1,725,081. 6.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GLUE has been the topic of a number of recent research reports. Zacks Research upgraded Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Wedbush reduced their price target on shares of 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. TD Cowen upgraded shares of Monte Rosa Therapeutics to a “strong-buy” rating in a research note on Monday. Guggenheim reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Monte Rosa Therapeutics in a report on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.50.

Monte Rosa Therapeutics 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.