Allspring Global Investments Holdings LLC Buys 365,272 Shares of Monte Rosa Therapeutics, Inc. $GLUE

Allspring Global Investments Holdings LLC boosted its position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 1,355.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 392,227 shares of the company’s stock after acquiring an additional 365,272 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.46% of Monte Rosa Therapeutics worth $6,452,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Monte Rosa Therapeutics by 10.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,118,904 shares of the company’s stock valued at $80,265,000 after buying an additional 481,844 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Monte Rosa Therapeutics by 8.6% in the fourth quarter. Vanguard Group Inc. now owns 3,246,500 shares of the company’s stock valued at $50,905,000 after purchasing an additional 257,547 shares in the last quarter. State Street Corp lifted its holdings in shares of Monte Rosa Therapeutics by 148.9% in the 4th quarter. State Street Corp now owns 2,107,480 shares of the company’s stock valued at $33,045,000 after acquiring an additional 1,260,707 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Monte Rosa Therapeutics by 459.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company’s stock valued at $5,791,000 after purchasing an additional 1,054,406 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Monte Rosa Therapeutics by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 1,204,844 shares of the company’s stock worth $18,896,000 after buying an additional 53,278 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on GLUE shares. Guggenheim boosted their target price on Monte Rosa Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. raised their target price on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings raised Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Zacks Research cut shares of Monte Rosa Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Monte Rosa Therapeutics Stock Performance

NASDAQ:GLUE opened at $23.03 on Friday. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -15.56 and a beta of 1.56. Monte Rosa Therapeutics, Inc. has a one year low of $4.12 and a one year high of $25.77. The firm’s fifty day moving average is $20.52 and its two-hundred day moving average is $19.60.

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

Insiders Place Their Bets

In related news, Director Anthony M. Manning sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the director owned 10,000 shares of the company’s stock, valued at approximately $231,100. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Champoux sold 2,176 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $19.00, for a total value of $41,344.00. Following the transaction, the chief operating officer owned 62,371 shares of the company’s stock, valued at approximately $1,185,049. This represents a 3.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 81,778 shares of company stock worth $1,768,581 in the last 90 days. 6.40% of the stock is currently owned by company insiders.

About Monte Rosa Therapeutics

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.