Brighton Jones LLC Acquires New Stake in Monte Rosa Therapeutics, Inc. $GLUE

Brighton Jones LLC bought a new position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,559 shares of the company’s stock, valued at approximately $48,000.

A number of other institutional investors have also recently bought and sold shares of GLUE. Pallas Capital Advisors LLC purchased a new position in Monte Rosa Therapeutics during the 2nd quarter worth approximately $59,000. Acadian Asset Management LLC bought a new stake in Monte Rosa Therapeutics in the first quarter worth $76,000. Wealth Enhancement Advisory Services LLC bought a new stake in Monte Rosa Therapeutics during the second quarter worth approximately $97,000. Trexquant Investment LP bought a new stake in shares of Monte Rosa Therapeutics during the 1st quarter worth $122,000. Finally, Fox Run Management L.L.C. bought a new stake in Monte Rosa Therapeutics during the 1st quarter valued at approximately $127,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Monte Rosa Therapeutics in a research note on Friday. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.33.

Monte Rosa Therapeutics Stock Performance

Shares of GLUE opened at $12.85 on Friday. Monte Rosa Therapeutics, Inc. has a 52-week low of $3.50 and a 52-week high of $13.22. The company has a market cap of $793.62 million, a price-to-earnings ratio of 35.70 and a beta of 1.54. The stock has a fifty day moving average price of $7.67 and a two-hundred day moving average price of $5.75.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its earnings results on Thursday, August 7th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.16. Monte Rosa Therapeutics had a net margin of 13.58% and a return on equity of 9.95%. The company had revenue of $23.19 million during the quarter, compared to the consensus estimate of $7.23 million. As a group, research analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

Monte Rosa Therapeutics Company Profile

Monte Rosa Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. The company develops MRT-2359, an orally bioavailable molecular glue degrader targeting the translation termination factor protein GSPT1 for the treatment of MYC-driven tumors; MRT-6160 for the treatment of systemic and central nervous system autoimmune diseases; and MRT-8102 for the treatment of IL-1?/NLRP3 driven inflammatory diseases.