Rangeley Capital LLC Sells 40,484 Shares of Monte Rosa Therapeutics, Inc. $GLUE

Rangeley Capital LLC trimmed its holdings in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 60.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,016 shares of the company’s stock after selling 40,484 shares during the quarter. Rangeley Capital LLC’s holdings in Monte Rosa Therapeutics were worth $444,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Monte Rosa Therapeutics by 8.6% in the fourth quarter. Vanguard Group Inc. now owns 3,246,500 shares of the company’s stock worth $50,905,000 after acquiring an additional 257,547 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Monte Rosa Therapeutics by 1,355.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 392,227 shares of the company’s stock valued at $6,452,000 after purchasing an additional 365,272 shares during the period. Strs Ohio purchased a new stake in Monte Rosa Therapeutics during the fourth quarter valued at approximately $566,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Monte Rosa Therapeutics in the 4th quarter valued at approximately $778,000. Finally, ProShare Advisors LLC lifted its stake in shares of Monte Rosa Therapeutics by 11.8% in the 4th quarter. ProShare Advisors LLC now owns 11,374 shares of the company’s stock valued at $178,000 after purchasing an additional 1,199 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on GLUE. 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 price target on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings raised shares of Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research note 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 investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Insiders Place Their Bets

In other Monte Rosa Therapeutics news, insider Filip Janku sold 30,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $21.42, for a total value of $642,600.00. Following the sale, the insider owned 59,992 shares in the company, valued at $1,285,028.64. This trade represents a 33.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sharon Townson sold 6,000 shares of Monte Rosa Therapeutics stock in a transaction on Monday, July 6th. The stock was sold at an average price of $23.31, for a total value of $139,860.00. Following the sale, the insider 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 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 owned by insiders.

Monte Rosa Therapeutics Price Performance

Shares of NASDAQ GLUE opened at $22.78 on Monday. Monte Rosa Therapeutics, Inc. has a 1 year low of $4.12 and a 1 year high of $25.77. The firm has a 50-day simple moving average of $20.61 and a two-hundred day simple moving average of $19.65. The company has a market cap of $1.92 billion, a P/E ratio of -15.39 and a beta of 1.56.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its earnings results on Thursday, May 7th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $4.21 million for the quarter, compared to the consensus estimate of $10.95 million. As a group, equities research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.23 EPS for the current year.

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.