Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.
Several other research firms have also recently weighed in on GLUE. Guggenheim lifted their price objective on Monte Rosa Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Jefferies Financial Group reissued a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Wedbush cut their price target on shares of Monte Rosa Therapeutics from $37.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price target 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. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Monte Rosa Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $30.67.
Read Our Latest Research Report on GLUE
Monte Rosa Therapeutics Trading Down 2.9%
Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). 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 $8.97 million during the quarter, compared to analyst estimates of $12.91 million. Analysts predict that Monte Rosa Therapeutics will post -1.23 EPS for the current fiscal year.
Insider Transactions at Monte Rosa Therapeutics
In other news, COO Jennifer Champoux sold 2,175 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $20.00, for a total transaction 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 $1,247,420. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony M. Manning sold 10,000 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $23.11, for a total value of $231,100.00. Following the transaction, the director owned 10,000 shares of the company’s stock, valued at approximately $231,100. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 81,778 shares of company stock valued at $1,768,581. 6.40% of the stock is currently owned by company insiders.
Institutional Trading of Monte Rosa Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in GLUE. Price T Rowe Associates Inc. MD boosted its holdings in Monte Rosa Therapeutics by 10.4% during 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 purchasing an additional 481,844 shares during the last quarter. Vanguard Group Inc. increased its stake in 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 buying an additional 257,547 shares during the last quarter. State Street Corp increased its stake in 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 buying an additional 1,260,707 shares during the last quarter. AQR Capital Management LLC lifted its position in Monte Rosa Therapeutics by 459.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company’s stock worth $5,791,000 after buying an additional 1,054,406 shares in the last quarter. Finally, Geode Capital Management LLC lifted 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 buying an additional 53,278 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.
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.
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