Franklin Resources Inc. Raises Stock Holdings in Monte Rosa Therapeutics, Inc. $GLUE

Franklin Resources Inc. lifted its stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 213.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,488 shares of the company’s stock after buying an additional 57,539 shares during the quarter. Franklin Resources Inc. owned about 0.14% of Monte Rosa Therapeutics worth $381,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. BVF Inc. IL increased its holdings in Monte Rosa Therapeutics by 104.7% in the 1st quarter. BVF Inc. IL now owns 5,660,132 shares of the company’s stock worth $26,263,000 after acquiring an additional 2,895,661 shares in the last quarter. Parkwood LLC boosted its position in shares of Monte Rosa Therapeutics by 119.2% in the first quarter. Parkwood LLC now owns 708,000 shares of the company’s stock worth $3,285,000 after purchasing an additional 385,000 shares during the period. 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. increased its stake in shares of Monte Rosa Therapeutics by 122.7% in the first 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 in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Monte Rosa Therapeutics by 12.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,124,160 shares of the company’s stock valued at $5,071,000 after purchasing an additional 120,098 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GLUE has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Monte Rosa Therapeutics in a research note on Friday, October 31st. Wells Fargo & Company upped their price objective on Monte Rosa Therapeutics from $10.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Two equities research 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.com, the stock presently has an average rating of “Hold” and an average price target of $16.33.

Monte Rosa Therapeutics Trading Down 4.8%

Shares of GLUE stock opened at $16.99 on Wednesday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 53.10 and a beta of 1.60. Monte Rosa Therapeutics, Inc. has a 12-month low of $3.50 and a 12-month high of $18.15. The stock’s 50-day moving average price is $12.60 and its 200-day moving average price is $7.73.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.06. Monte Rosa Therapeutics had a return on equity of 8.28% and a net margin of 11.54%.The company had revenue of $12.77 million during the quarter, compared to analyst estimates of $7.37 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 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.