Wedbush reiterated their outperform rating on shares of Monte Rosa Therapeutics (NASDAQ:GLUE – Free Report) in a research report released on Wednesday morning,Benzinga reports. Wedbush currently has a $27.00 price objective on the stock.
A number of other research analysts have also issued reports on GLUE. Wells Fargo & Company decreased their target price on Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Guggenheim reiterated a “buy” rating and issued a $28.00 price objective on shares of Monte Rosa Therapeutics in a research note on Tuesday, August 25th. Weiss Ratings downgraded Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.50.
Monte Rosa Therapeutics Stock Performance
Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) last released 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). The business 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 43.31% and a negative net margin of 560.85%. On average, research analysts forecast that Monte Rosa Therapeutics will post -1.04 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider Filip Janku sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $21.42, for a total transaction of $642,600.00. Following the sale, the insider owned 59,992 shares of the company’s stock, valued at approximately $1,285,028.64. This trade represents a 33.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer Champoux sold 2,176 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $19.00, for a total value of $41,344.00. Following the sale, the chief operating officer owned 62,371 shares of the company’s stock, valued at approximately $1,185,049. The trade was a 3.37% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 79,603 shares of company stock worth $1,725,081. Insiders own 6.40% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of GLUE. Allworth Financial LP acquired a new position in Monte Rosa Therapeutics in the second quarter valued at $30,000. Seven Fleet Capital Management LP purchased a new position in Monte Rosa Therapeutics during the 4th quarter worth approximately $63,000. Russell Investments Group Ltd. purchased a new position in Monte Rosa Therapeutics during the 3rd quarter worth approximately $32,000. E Fund Management Co. Ltd. acquired a new position in Monte Rosa Therapeutics during the second quarter worth approximately $200,000. Finally, Pallas Capital Advisors LLC acquired a new position in Monte Rosa Therapeutics during the second quarter worth approximately $221,000. Institutional investors and hedge funds own 79.96% of the company’s stock.
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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