191,877 Shares in Monte Rosa Therapeutics, Inc. $GLUE Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 191,877 shares of the company’s stock, valued at approximately $4,643,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alphabet Inc. purchased a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter worth about $9,014,000. Vanguard Group Inc. increased 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 worth $50,905,000 after acquiring an additional 257,547 shares in the last quarter. Swiss National Bank purchased a new position in Monte Rosa Therapeutics during the 1st quarter valued at about $1,005,000. Renaissance Technologies LLC purchased a new position in Monte Rosa Therapeutics during the 1st quarter valued at about $6,236,000. Finally, Janus Henderson Group PLC purchased a new position in Monte Rosa Therapeutics during the 1st quarter valued at about $11,294,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insiders Place Their Bets

In other Monte Rosa Therapeutics news, Director Anthony M. Manning sold 10,000 shares of Monte Rosa Therapeutics stock in a transaction on 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 sale, the director owned 10,000 shares of the company’s stock, valued at approximately $231,100. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Filip Janku sold 30,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $21.42, for a total value of $642,600.00. Following the completion of the transaction, the insider owned 59,992 shares of the company’s stock, valued at $1,285,028.64. This represents a 33.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 79,603 shares of company stock valued at $1,725,081. Insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Guggenheim restated a “buy” rating and issued a $28.00 price objective on shares of Monte Rosa Therapeutics in a report on Tuesday, August 25th. Wells Fargo & Company lowered their target price 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. Weiss Ratings cut Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group restated a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. reduced their price objective on Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.50.

Monte Rosa Therapeutics Stock Performance

Shares of GLUE stock opened at $13.94 on Tuesday. Monte Rosa Therapeutics, Inc. has a one year low of $4.60 and a one year high of $25.77. The company’s 50-day moving average is $19.62 and its 200 day moving average is $18.59. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.92 and a beta of 1.59.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its 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 during the quarter, compared to analysts’ expectations 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 predict that Monte Rosa Therapeutics, Inc. will post -1.32 earnings per share for the current fiscal 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.