Braidwell LP Sells 755,012 Shares of Monte Rosa Therapeutics, Inc. $GLUE

Braidwell LP lowered its stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 23.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,451,562 shares of the company’s stock after selling 755,012 shares during the period. Monte Rosa Therapeutics makes up approximately 2.2% of Braidwell LP’s holdings, making the stock its 11th biggest position. Braidwell LP’s holdings in Monte Rosa Therapeutics were worth $59,328,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GLUE. Allworth Financial LP acquired a new position in shares of Monte Rosa Therapeutics during the 2nd quarter valued at about $30,000. Seven Fleet Capital Management LP acquired a new stake in Monte Rosa Therapeutics in the 4th quarter worth approximately $63,000. Russell Investments Group Ltd. acquired a new position in Monte Rosa Therapeutics during the third quarter valued at approximately $32,000. E Fund Management Co. Ltd. bought a new position in shares of Monte Rosa Therapeutics in the second quarter valued at approximately $200,000. Finally, Pallas Capital Advisors LLC bought a new position in shares of Monte Rosa Therapeutics in the second quarter valued at approximately $221,000. Institutional investors own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Weiss Ratings downgraded shares of Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Guggenheim restated a “buy” rating and set a $28.00 price target on shares of Monte Rosa Therapeutics in a report on Tuesday, August 25th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Finally, Wells Fargo & Company dropped their price objective on 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.50.

Monte Rosa Therapeutics Trading Down 0.6%

Shares of GLUE stock opened at $14.22 on Thursday. Monte Rosa Therapeutics, Inc. has a 1 year low of $4.78 and a 1 year high of $25.77. The firm’s fifty day simple moving average is $19.36 and its 200 day simple moving average is $18.52. The firm has a market capitalization of $1.21 billion, a P/E ratio of -8.08 and a beta of 1.50.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). The company had revenue of $8.97 million during the quarter, compared to the consensus estimate of $12.91 million. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. Equities research analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity at Monte Rosa Therapeutics

In related news, Director Anthony M. Manning sold 10,000 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $23.11, for a total transaction of $231,100.00. Following the transaction, the director directly owned 10,000 shares in the company, valued at $231,100. The trade was a 50.00% 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 Sharon Townson sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $23.31, for a total value of $139,860.00. Following the completion of the transaction, the insider directly owned 67,845 shares of the company’s stock, valued at approximately $1,581,466.95. This trade represents a 8.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 79,603 shares of company stock worth $1,725,081 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.

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.