Franklin Resources Inc. Acquires 57,539 Shares of Monte Rosa Therapeutics, Inc. $GLUE

Franklin Resources Inc. grew its holdings in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 213.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,488 shares of the company’s stock after buying an additional 57,539 shares during the quarter. Franklin Resources Inc.’s holdings in Monte Rosa Therapeutics were worth $381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GLUE. Brighton Jones LLC purchased a new stake in Monte Rosa Therapeutics during the second quarter valued at approximately $48,000. Pallas Capital Advisors LLC bought a new position in shares of Monte Rosa Therapeutics during the 2nd quarter valued at approximately $59,000. Acadian Asset Management LLC purchased a new stake in Monte Rosa Therapeutics during the 1st quarter valued at $76,000. Los Angeles Capital Management LLC purchased a new stake in Monte Rosa Therapeutics during the 2nd quarter valued at $89,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Monte Rosa Therapeutics in the second quarter worth $97,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Monte Rosa Therapeutics from $10.00 to $13.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Monte Rosa Therapeutics in a report on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.33.

Monte Rosa Therapeutics Trading Down 4.8%

NASDAQ GLUE opened at $16.99 on Wednesday. The stock has a market cap of $1.11 billion, a PE ratio of 53.10 and a beta of 1.60. Monte Rosa Therapeutics, Inc. has a 12 month low of $3.50 and a 12 month high of $18.15. The company’s 50-day moving average price is $12.60 and its 200-day moving average price is $7.73.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.06. The company had revenue of $12.77 million during the quarter, compared to analyst estimates of $7.37 million. Monte Rosa Therapeutics had a net margin of 11.54% and a return on equity of 8.28%. As a group, sell-side analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Monte Rosa Therapeutics Profile

Monte Rosa Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. The company develops MRT-2359, an orally bioavailable molecular glue degrader targeting the translation termination factor protein GSPT1 for the treatment of MYC-driven tumors; MRT-6160 for the treatment of systemic and central nervous system autoimmune diseases; and MRT-8102 for the treatment of IL-1?/NLRP3 driven inflammatory diseases.