Empowered Funds LLC Makes New Investment in Monte Rosa Therapeutics, Inc. $GLUE

Empowered Funds LLC bought a new position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 329,266 shares of the company’s stock, valued at approximately $7,968,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Alphabet Inc. bought a new position in Monte Rosa Therapeutics during the 2nd quarter worth about $9,014,000. Vanguard Group Inc. boosted its stake in shares of Monte Rosa Therapeutics by 8.6% during the fourth 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. The Manufacturers Life Insurance Company boosted its stake in shares of Monte Rosa Therapeutics by 55.8% during the first quarter. The Manufacturers Life Insurance Company now owns 209,801 shares of the company’s stock valued at $3,451,000 after purchasing an additional 75,127 shares in the last quarter. Swiss National Bank purchased a new position in Monte Rosa Therapeutics during the first quarter valued at approximately $1,005,000. Finally, Janus Henderson Group PLC purchased a new position in Monte Rosa Therapeutics during the first quarter valued at approximately $11,294,000. Institutional investors own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GLUE. JPMorgan Chase & Co. dropped their target price on 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. Weiss Ratings lowered shares of Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a report on Monday, July 27th. Zacks Research upgraded Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Wedbush lowered their price target on Monte Rosa Therapeutics from $37.00 to $27.00 and set an “outperform” rating for the company in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $28.50.

Insider Transactions at Monte Rosa Therapeutics

In related news, Director Anthony M. Manning sold 10,000 shares of the stock in a transaction that occurred 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 owned 10,000 shares in the company, valued at approximately $231,100. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer Champoux sold 2,175 shares of the firm’s stock in a transaction that occurred on 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 directly owned 62,371 shares of the company’s stock, valued at $1,247,420. This represents a 3.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 79,603 shares of company stock worth $1,725,081 in the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Monte Rosa Therapeutics Price Performance

Shares of GLUE opened at $13.38 on Friday. The company’s fifty day moving average price is $19.72 and its 200-day moving average price is $18.63. Monte Rosa Therapeutics, Inc. has a 1-year low of $4.60 and a 1-year high of $25.77. The firm has a market capitalization of $1.14 billion, a PE ratio of -7.60 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) 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%. As a group, research analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.32 EPS for the current fiscal year.

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.