Nantahala Capital Management LLC bought a new stake in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE – Free Report) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 651,993 shares of the company’s stock, valued at approximately $15,778,231.
A number of other large investors also recently added to or reduced their stakes in GLUE. Allworth Financial LP bought a new position in Monte Rosa Therapeutics in the 2nd quarter worth approximately $30,000. Seven Fleet Capital Management LP purchased a new stake in Monte Rosa Therapeutics during the 4th quarter valued at approximately $63,000. Russell Investments Group Ltd. bought a new stake in shares of Monte Rosa Therapeutics during the third quarter valued at approximately $32,000. E Fund Management Co. Ltd. bought a new stake in shares of Monte Rosa Therapeutics during the second quarter valued at approximately $200,000. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Monte Rosa Therapeutics in the second quarter worth $221,000. 79.96% of the stock is owned by hedge funds and other institutional investors.
Monte Rosa Therapeutics Price Performance
Shares of NASDAQ GLUE opened at $13.38 on Friday. The stock has a market capitalization of $1.14 billion, a P/E ratio of -7.60 and a beta of 1.59. The business’s 50 day moving average is $19.72 and its two-hundred day moving average is $18.63. Monte Rosa Therapeutics, Inc. has a 1-year low of $4.60 and a 1-year high of $25.77.
Insider Buying and Selling at Monte Rosa Therapeutics
In related news, insider Sharon Townson sold 6,000 shares of the company’s 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 transaction, the insider directly owned 67,845 shares of the company’s stock, valued at $1,581,466.95. This represents a 8.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Jennifer Champoux sold 2,176 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $19.00, for a total transaction of $41,344.00. Following the transaction, the chief operating officer owned 62,371 shares in the company, valued at $1,185,049. The trade was a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 79,603 shares of company stock valued at $1,725,081. 6.40% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on GLUE shares. Guggenheim restated a “buy” rating and set a $28.00 target price on shares of Monte Rosa Therapeutics in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Wells Fargo & Company decreased their price target on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Zacks Research raised shares of Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, TD Cowen upgraded Monte Rosa Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.50.
View Our Latest Analysis on Monte Rosa Therapeutics
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.
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