Renaissance Technologies LLC Takes Position in Monte Rosa Therapeutics, Inc. $GLUE

Renaissance Technologies LLC bought a new position in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 379,100 shares of the company’s stock, valued at approximately $6,236,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GLUE. Price T Rowe Associates Inc. MD boosted its holdings in Monte Rosa Therapeutics by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,118,904 shares of the company’s stock worth $80,265,000 after acquiring an additional 481,844 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Monte Rosa Therapeutics by 8.6% in the 4th 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 during the last quarter. State Street Corp raised its position 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 purchasing an additional 1,260,707 shares during the last quarter. AQR Capital Management LLC boosted its stake in 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 worth $5,791,000 after purchasing an additional 1,054,406 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Monte Rosa Therapeutics by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 1,204,844 shares of the company’s stock worth $18,896,000 after purchasing an additional 53,278 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Anthony M. Manning sold 10,000 shares of Monte Rosa Therapeutics stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $23.11, for a total transaction of $231,100.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at $231,100. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer Champoux sold 2,176 shares of the business’s stock in a transaction 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 completion of 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 disclosure for this sale is available in the SEC filing. Insiders sold 81,778 shares of company stock valued at $1,768,581 in the last quarter. Company insiders own 6.40% of the company’s stock.

Monte Rosa Therapeutics Stock Up 4.6%

Shares of GLUE opened at $16.08 on Wednesday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -10.86 and a beta of 1.59. Monte Rosa Therapeutics, Inc. has a 52 week low of $4.12 and a 52 week high of $25.77. The stock’s 50-day moving average price is $20.75 and its 200-day moving average price is $19.49.

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 analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Guggenheim raised their price target on shares of Monte Rosa Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. boosted their price objective on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Wedbush cut their target price on Monte Rosa Therapeutics from $37.00 to $27.00 and set an “outperform” rating on the stock in a research report on Monday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Finally, Zacks Research lowered Monte Rosa Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

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.