Monte Rosa Therapeutics (NASDAQ:GLUE) Director Sells $231,100.00 in Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUEGet Free Report) Director Anthony Manning sold 10,000 shares of the company’s stock in a transaction on Monday, June 29th. The shares were 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 $231,100. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Monte Rosa Therapeutics Stock Up 0.8%

GLUE opened at $24.21 on Friday. The firm has a market cap of $2.05 billion, a PE ratio of -16.36 and a beta of 1.56. The business has a fifty day simple moving average of $19.30 and a 200-day simple moving average of $18.84. Monte Rosa Therapeutics, Inc. has a fifty-two week low of $4.12 and a fifty-two week high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUEGet Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The company had revenue of $4.21 million during the quarter, compared to analyst estimates of $10.95 million. Monte Rosa Therapeutics had a negative return on equity of 40.99% and a negative net margin of 302.69%. On average, equities research analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Monte Rosa Therapeutics by 8.6% during the fourth 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. Massachusetts Financial Services Co. MA purchased a new position in Monte Rosa Therapeutics in the fourth quarter valued at about $778,000. Strs Ohio purchased a new position in Monte Rosa Therapeutics in the fourth quarter valued at about $566,000. AXQ Capital LP acquired a new position in Monte Rosa Therapeutics in the 4th quarter worth about $215,000. Finally, ProShare Advisors LLC increased its position in Monte Rosa Therapeutics by 11.8% in the 4th quarter. ProShare Advisors LLC now owns 11,374 shares of the company’s stock worth $178,000 after purchasing an additional 1,199 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

GLUE has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Wells Fargo & Company decreased their target price on shares of Monte Rosa Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Wall Street Zen downgraded shares of Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings upgraded shares of Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, Guggenheim raised their price objective on shares of Monte Rosa Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

View Our Latest Research Report on Monte Rosa Therapeutics

About Monte Rosa Therapeutics

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Monte Rosa Therapeutics (NASDAQ:GLUE)

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