Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) had its target price lowered by investment analysts at JPMorgan Chase & Co. from $31.00 to $27.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 68.70% from the company’s current price.
Other equities analysts have also issued reports about the company. Jefferies Financial Group restated a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Zacks Research upgraded shares of Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday. Wedbush lowered their target price on shares of Monte Rosa Therapeutics from $37.00 to $27.00 and set an “outperform” rating for the company in a research note on Monday. Wells Fargo & Company cut their target price on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Weiss Ratings raised shares of Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.50.
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Monte Rosa Therapeutics Price Performance
Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). The company had revenue of $8.97 million for the quarter, compared to analyst estimates of $12.91 million. Monte Rosa Therapeutics had a negative return on equity of 40.99% and a negative net margin of 302.69%. As a group, sell-side analysts forecast that Monte Rosa Therapeutics will post -1.23 EPS for the current fiscal year.
Insider Activity at Monte Rosa Therapeutics
In related news, insider Filip Janku sold 30,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $21.42, for a total value of $642,600.00. Following the sale, the insider directly owned 59,992 shares of the company’s stock, valued at approximately $1,285,028.64. The trade was a 33.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Champoux sold 2,176 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was 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 directly owned 62,371 shares of the company’s stock, valued at approximately $1,185,049. The trade was a 3.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 81,778 shares of company stock worth $1,768,581 over the last ninety days. 6.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Monte Rosa Therapeutics during the second quarter worth about $165,603,000. Pallas Capital Advisors LLC bought a new stake in Monte Rosa Therapeutics in the 2nd quarter valued at approximately $221,000. Deutsche Bank AG acquired a new position in Monte Rosa Therapeutics during the 2nd quarter worth approximately $1,816,000. Alphabet Inc. acquired a new position in Monte Rosa Therapeutics during the 2nd quarter worth approximately $9,014,000. Finally, Wealth Effects LLC bought a new position in shares of Monte Rosa Therapeutics during the 2nd quarter worth approximately $244,000. 79.96% of the stock is owned by institutional investors and hedge funds.
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.
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