Opaleye Management Inc. Purchases New Holdings in Monte Rosa Therapeutics, Inc. $GLUE

Opaleye Management Inc. acquired a new position in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 745,000 shares of the company’s stock, valued at approximately $18,029,000. Monte Rosa Therapeutics comprises approximately 1.6% of Opaleye Management Inc.’s investment portfolio, making the stock its 17th largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Alphabet Inc. acquired a new position in shares of Monte Rosa Therapeutics during the 2nd quarter worth $9,014,000. Vanguard Group Inc. boosted its stake in shares of Monte Rosa Therapeutics by 8.6% during the 4th 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. The Manufacturers Life Insurance Company increased its holdings in shares of Monte Rosa Therapeutics by 55.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 209,801 shares of the company’s stock valued at $3,451,000 after acquiring an additional 75,127 shares during the last quarter. Swiss National Bank bought a new position in shares of Monte Rosa Therapeutics in the 1st quarter valued at approximately $1,005,000. Finally, Renaissance Technologies LLC bought a new position in shares of Monte Rosa Therapeutics in the 1st quarter valued at approximately $6,236,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Trading Up 0.4%

Shares of Monte Rosa Therapeutics stock opened at $14.32 on Friday. Monte Rosa Therapeutics, Inc. has a 1 year low of $4.80 and a 1 year high of $25.77. The company’s fifty day simple moving average is $18.25 and its 200-day simple moving average is $18.34. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -8.14 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%. As a group, research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

GLUE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Zacks Research upgraded shares of Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Guggenheim reiterated a “buy” rating and issued a $28.00 target price on shares of Monte Rosa Therapeutics in a report on Tuesday, August 25th. Weiss Ratings lowered shares of Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Finally, Wedbush restated an “outperform” rating and set a $27.00 price target on shares of Monte Rosa Therapeutics in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Monte Rosa Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $28.50.

Insider Transactions at Monte Rosa Therapeutics

In related news, insider Sharon Townson sold 6,000 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $23.31, for a total transaction of $139,860.00. Following the transaction, the insider directly owned 67,845 shares in the company, valued at $1,581,466.95. The trade was a 8.13% 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, COO Jennifer Champoux sold 2,175 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $20.00, for a total value of $43,500.00. Following the completion of the transaction, the chief operating officer directly owned 62,371 shares of the company’s stock, valued at approximately $1,247,420. This trade represents a 3.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 79,603 shares of company stock valued at $1,725,081 in the last ninety days. 6.40% of the stock is owned by corporate insiders.

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.