Allspring Global Investments Holdings LLC Raises Stake in Monte Rosa Therapeutics, Inc. $GLUE

Allspring Global Investments Holdings LLC boosted its stake in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) by 1,355.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 392,227 shares of the company’s stock after acquiring an additional 365,272 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Monte Rosa Therapeutics were worth $6,452,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GLUE. Nisa Investment Advisors LLC increased its stake in shares of Monte Rosa Therapeutics by 16.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,151 shares of the company’s stock worth $49,000 after acquiring an additional 451 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Monte Rosa Therapeutics by 32.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company’s stock worth $50,000 after buying an additional 776 shares in the last quarter. ProShare Advisors LLC lifted its holdings 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 buying an additional 1,199 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Monte Rosa Therapeutics by 7.5% in the 4th quarter. MetLife Investment Management LLC now owns 26,187 shares of the company’s stock valued at $411,000 after buying an additional 1,831 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in shares of Monte Rosa Therapeutics in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GLUE. JPMorgan Chase & Co. raised their target price on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Zacks Research cut shares of Monte Rosa Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Guggenheim increased their price target on shares of Monte Rosa Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings upgraded shares of Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.33.

Insider Activity

In other Monte Rosa Therapeutics news, Director Anthony M. Manning sold 10,000 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $23.11, for a total value of $231,100.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at approximately $231,100. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sharon Townson sold 6,000 shares of the 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 transaction, the insider directly owned 67,845 shares in the company, valued at approximately $1,581,466.95. This represents a 8.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 81,778 shares of company stock worth $1,768,581 in the last three months. 6.40% of the stock is owned by insiders.

Monte Rosa Therapeutics Stock Down 3.2%

Shares of NASDAQ:GLUE opened at $23.03 on Friday. The company has a market capitalization of $1.95 billion, a P/E ratio of -15.56 and a beta of 1.56. Monte Rosa Therapeutics, Inc. has a 52-week low of $4.12 and a 52-week high of $25.77. The stock’s fifty day simple moving average is $20.52 and its 200-day simple moving average is $19.60.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings data 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 return on equity of 40.99% and a negative net margin of 302.69%.The company had revenue of $4.21 million for the quarter, compared to analysts’ expectations of $10.95 million. On average, sell-side analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.23 earnings per share 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.