Montanova Capital LLC Sells 677,270 Shares of Monte Rosa Therapeutics, Inc. $GLUE

Montanova Capital LLC cut its holdings in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 16.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,549,539 shares of the company’s stock after selling 677,270 shares during the quarter. Monte Rosa Therapeutics comprises approximately 1.4% of Montanova Capital LLC’s holdings, making the stock its 21st largest position. Montanova Capital LLC owned about 4.16% of Monte Rosa Therapeutics worth $85,899,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Alphabet Inc. acquired a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter valued at $9,014,000. Vanguard Group Inc. increased its position in Monte Rosa Therapeutics by 8.6% during the fourth quarter. Vanguard Group Inc. now owns 3,246,500 shares of the company’s stock worth $50,905,000 after buying an additional 257,547 shares during the last quarter. Swiss National Bank bought a new position in Monte Rosa Therapeutics during the first quarter valued at about $1,005,000. The Manufacturers Life Insurance Company lifted its position in shares of Monte Rosa Therapeutics by 55.8% in the first quarter. The Manufacturers Life Insurance Company now owns 209,801 shares of the company’s stock worth $3,451,000 after buying an additional 75,127 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Monte Rosa Therapeutics in the first quarter worth about $6,236,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Guggenheim reissued a “buy” rating and issued a $28.00 price objective on shares of Monte Rosa Therapeutics in a research note on Tuesday, August 25th. JPMorgan Chase & Co. dropped 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 report on Friday, August 7th. Wells Fargo & Company decreased their price objective on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 7th. TD Cowen raised shares of Monte Rosa Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.50.

Monte Rosa Therapeutics Stock Performance

NASDAQ GLUE opened at $13.94 on Tuesday. The firm has a 50-day simple moving average of $19.62 and a 200 day simple moving average of $18.59. Monte Rosa Therapeutics, Inc. has a twelve month low of $4.60 and a twelve month high of $25.77. The stock has a market cap of $1.19 billion, a PE ratio of -7.92 and a beta of 1.59.

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

Insider Transactions at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, insider Sharon Townson sold 6,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $23.31, for a total value of $139,860.00. Following the sale, the insider owned 67,845 shares of the company’s stock, valued at $1,581,466.95. The trade was a 8.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Filip Janku sold 5,407 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $24.50, for a total transaction of $132,471.50. Following the transaction, the insider directly owned 60,612 shares of the company’s stock, valued at $1,484,994. The trade was a 8.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 79,603 shares of company stock valued at $1,725,081. Company insiders own 6.40% of the company’s stock.

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.