Arrowstreet Capital Limited Partnership Buys 340,088 Shares of Monte Rosa Therapeutics, Inc. $GLUE

Arrowstreet Capital Limited Partnership raised its stake in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 110.5% in the first quarter, Holdings Channel reports. The institutional investor owned 647,739 shares of the company’s stock after buying an additional 340,088 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Monte Rosa Therapeutics were worth $10,655,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new stake in shares of Monte Rosa Therapeutics in the first quarter worth $1,065,000. Goldman Sachs Group Inc. raised its position in shares of Monte Rosa Therapeutics by 122.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 356,112 shares of the company’s stock worth $1,652,000 after purchasing an additional 196,238 shares during the last quarter. Acadian Asset Management LLC bought a new position in Monte Rosa Therapeutics in the 1st quarter worth about $76,000. Geode Capital Management LLC boosted its stake in Monte Rosa Therapeutics by 12.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,124,160 shares of the company’s stock worth $5,071,000 after purchasing an additional 120,098 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Monte Rosa Therapeutics by 301.4% in the 2nd quarter. American Century Companies Inc. now owns 403,045 shares of the company’s stock worth $1,818,000 after purchasing an additional 302,639 shares in the last quarter. 79.96% of the stock is owned by institutional investors.

Monte Rosa Therapeutics Stock Down 27.2%

GLUE opened at $16.52 on Friday. The firm has a 50 day moving average price of $20.88 and a 200-day moving average price of $19.63. Monte Rosa Therapeutics, Inc. has a twelve month low of $4.12 and a twelve month high of $25.77. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -11.16 and a beta of 1.56.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The company had revenue of $4.21 million for the quarter, compared to the consensus estimate of $10.95 million. Monte Rosa Therapeutics had a negative net margin of 302.69% and a negative return on equity of 40.99%. As a group, analysts expect that Monte Rosa Therapeutics, Inc. will post -1.23 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Jefferies Financial Group restated a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday. Guggenheim raised their price target on shares of Monte Rosa Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Weiss Ratings upgraded shares of Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday. Zacks Research cut Monte Rosa Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. increased their target price on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research note 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.33.

Insider Transactions at Monte Rosa Therapeutics

In related news, COO Jennifer Champoux sold 2,175 shares of Monte Rosa Therapeutics stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $20.00, for a total value of $43,500.00. Following the completion of the sale, the chief operating officer owned 62,371 shares of the company’s stock, valued at $1,247,420. The trade was a 3.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Filip Janku sold 5,407 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $24.50, for a total value of $132,471.50. Following the sale, the insider owned 60,612 shares of the company’s stock, valued at approximately $1,484,994. This trade represents a 8.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 81,778 shares of company stock worth $1,768,581. 6.40% of the stock is currently owned by insiders.

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.