42,391 Shares in Monte Rosa Therapeutics, Inc. $GLUE Bought by Principal Financial Group Inc.

Principal Financial Group Inc. acquired a new stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 42,391 shares of the company’s stock, valued at approximately $697,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GLUE. Vanguard Group Inc. boosted its stake in shares of Monte Rosa Therapeutics by 8.6% in the 4th quarter. Vanguard Group Inc. now owns 3,246,500 shares of the company’s stock valued at $50,905,000 after purchasing an additional 257,547 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Monte Rosa Therapeutics in the fourth quarter valued at $778,000. Strs Ohio bought a new position in shares of Monte Rosa Therapeutics during the fourth quarter worth about $566,000. ProShare Advisors LLC raised its holdings in Monte Rosa Therapeutics by 11.8% during the 4th quarter. ProShare Advisors LLC now owns 11,374 shares of the company’s stock worth $178,000 after purchasing an additional 1,199 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new position in Monte Rosa Therapeutics in the fourth quarter valued at $172,000. Institutional investors own 79.96% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, insider Sharon Townson sold 6,000 shares of Monte Rosa Therapeutics stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $23.31, for a total transaction of $139,860.00. Following the completion of the sale, the insider owned 67,845 shares in the company, valued at approximately $1,581,466.95. This trade represents a 8.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anthony M. Manning sold 10,000 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was 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 $231,100. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 81,778 shares of company stock valued at $1,768,581 over the last 90 days. 6.40% of the stock is owned by insiders.

Monte Rosa Therapeutics Price Performance

GLUE opened at $16.52 on Friday. The firm has a market capitalization of $1.40 billion, a P/E ratio of -11.16 and a beta of 1.56. Monte Rosa Therapeutics, Inc. has a one year low of $4.12 and a one year high of $25.77. The company has a fifty day moving average price of $20.88 and a 200-day moving average price of $19.63.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.45) earnings per share (EPS) 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 analysts’ expectations of $10.95 million. Monte Rosa Therapeutics had a negative return on equity of 40.99% and a negative net margin of 302.69%. On average, analysts expect that Monte Rosa Therapeutics, Inc. will post -1.23 earnings per share for the current year.

Monte Rosa Therapeutics Company 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.