Wellington Management Group LLP Grows Stake in Monte Rosa Therapeutics, Inc. $GLUE

Wellington Management Group LLP raised its holdings in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 61.1% during the second quarter, HoldingsChannel.com reports. The firm owned 207,427 shares of the company’s stock after buying an additional 78,635 shares during the period. Wellington Management Group LLP’s holdings in Monte Rosa Therapeutics were worth $5,020,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in shares of Monte Rosa Therapeutics in the 1st quarter worth $1,065,000. Goldman Sachs Group Inc. grew its stake in Monte Rosa Therapeutics by 122.7% during the 1st 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 during the last quarter. Acadian Asset Management LLC acquired a new position in Monte Rosa Therapeutics during the 1st quarter valued at about $76,000. Geode Capital Management LLC raised its stake in 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 valued at $5,071,000 after buying an additional 120,098 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Monte Rosa Therapeutics by 301.4% in the second quarter. American Century Companies Inc. now owns 403,045 shares of the company’s stock valued at $1,818,000 after buying an additional 302,639 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, insider Sharon Townson sold 6,000 shares of Monte Rosa Therapeutics stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $23.31, for a total transaction of $139,860.00. Following the completion of the transaction, the insider owned 67,845 shares in the company, valued at approximately $1,581,466.95. This trade represents a 8.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Filip Janku sold 30,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $21.42, for a total value of $642,600.00. Following the completion of the transaction, the insider directly owned 59,992 shares of the company’s stock, valued at approximately $1,285,028.64. This trade represents a 33.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 79,603 shares of company stock worth $1,725,081. Corporate insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GLUE. TD Cowen upgraded Monte Rosa Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. 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 research note on Friday, August 7th. JPMorgan Chase & Co. dropped their target price 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. Finally, Zacks Research raised shares of Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Monte Rosa Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $28.50.

Monte Rosa Therapeutics Price Performance

GLUE stock opened at $14.26 on Thursday. The company has a market capitalization of $1.22 billion, a P/E ratio of -8.10 and a beta of 1.50. Monte Rosa Therapeutics, Inc. has a 12 month low of $4.79 and a 12 month high of $25.77. The firm’s fifty day simple moving average is $18.45 and its 200-day simple moving average is $18.37.

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). Monte Rosa Therapeutics had a negative return on equity of 43.31% and a negative net margin of 560.85%.The business had revenue of $8.97 million for the quarter, compared to analysts’ expectations of $12.91 million. As a group, sell-side analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.32 earnings per share for the current 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.