Exome Asset Management LLC Purchases Shares of 179,484 Monte Rosa Therapeutics, Inc. $GLUE

Exome Asset Management LLC purchased a new stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) during the 1st quarter, Holdings Channel reports. The firm purchased 179,484 shares of the company’s stock, valued at approximately $2,953,000. Monte Rosa Therapeutics accounts for about 1.5% of Exome Asset Management LLC’s holdings, making the stock its 24th largest position.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC acquired a new position in shares of Monte Rosa Therapeutics during the 1st quarter worth approximately $1,065,000. Goldman Sachs Group Inc. increased its position in Monte Rosa Therapeutics by 122.7% during the first quarter. Goldman Sachs Group Inc. now owns 356,112 shares of the company’s stock worth $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 first quarter worth $76,000. Geode Capital Management LLC raised its holdings in shares of Monte Rosa Therapeutics by 12.0% in the second 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. raised its holdings in shares of Monte Rosa Therapeutics by 301.4% in the second 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 hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Anthony M. Manning sold 10,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $23.11, for a total transaction 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. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jennifer Champoux sold 2,175 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $20.00, for a total transaction of $43,500.00. Following the transaction, the chief operating officer owned 62,371 shares in the company, valued at approximately $1,247,420. 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 sold a total of 81,778 shares of company stock valued at $1,768,581 in the last quarter. Corporate insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

GLUE has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday. Guggenheim boosted their target price on shares of Monte Rosa Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Zacks Research lowered shares of Monte Rosa Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Weiss Ratings raised shares of Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.83.

Monte Rosa Therapeutics Stock Down 1.0%

Shares of Monte Rosa Therapeutics stock opened at $22.56 on Tuesday. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $4.12 and a fifty-two week high of $25.77. The business’s fifty day moving average is $20.70 and its two-hundred day moving average is $19.70. The firm has a market cap of $1.91 billion, a PE ratio of -15.24 and a beta of 1.56.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.45) 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 net margin of 302.69% and a negative return on equity of 40.99%. Equities research analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.23 EPS for the current year.

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.