Principal Financial Group Inc. Makes New $697,000 Investment in Monte Rosa Therapeutics, Inc. $GLUE

Principal Financial Group Inc. acquired a new position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 42,391 shares of the company’s stock, valued at approximately $697,000. Principal Financial Group Inc. owned about 0.05% of Monte Rosa Therapeutics at the end of the most recent reporting period.

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

Insider Activity at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, Director Anthony M. Manning sold 10,000 shares of the company’s 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 transaction, the director directly owned 10,000 shares in the company, valued at $231,100. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jennifer Champoux sold 2,176 shares of Monte Rosa Therapeutics 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 sale, the chief operating officer directly owned 62,371 shares of the company’s stock, valued at $1,185,049. The trade was a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 81,778 shares of company stock valued at $1,768,581. 6.40% of the stock is owned by company insiders.

Monte Rosa Therapeutics Stock Down 27.2%

Shares of NASDAQ GLUE opened at $16.52 on Friday. The business’s 50 day moving average price is $20.88 and its two-hundred day moving average price is $19.63. The company has a market cap of $1.40 billion, a PE ratio of -11.16 and a beta of 1.56. Monte Rosa Therapeutics, Inc. has a twelve month low of $4.12 and a twelve month high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released 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). Monte Rosa Therapeutics had a negative net margin of 302.69% and a negative return on equity of 40.99%. The business had revenue of $4.21 million during the quarter, compared to analyst estimates of $10.95 million. As a group, research analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GLUE has been the topic of several recent analyst reports. Zacks Research lowered Monte Rosa Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. raised their target price on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Guggenheim raised 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. Weiss Ratings raised shares of Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday. Seven research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

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.