Zacks Research upgraded shares of Monte Rosa Therapeutics (NASDAQ:GLUE – Free Report) from a strong sell rating to a hold rating in a report published on Tuesday,Zacks.com reports.
A number of other analysts also recently weighed in on the stock. Wedbush decreased 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 report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. 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. Jefferies Financial Group reissued a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Finally, Guggenheim raised their target price on Monte Rosa Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.67.
View Our Latest Research Report on GLUE
Monte Rosa Therapeutics Stock Down 2.9%
Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.05). Monte Rosa Therapeutics had a negative return on equity of 40.99% and a negative net margin of 302.69%.The company had revenue of $8.97 million for the quarter, compared to analyst estimates of $12.91 million. Research analysts expect that Monte Rosa Therapeutics will post -1.23 earnings per share for the current fiscal year.
Insider Transactions at Monte Rosa Therapeutics
In related news, Director Anthony M. Manning sold 10,000 shares of the stock in a transaction on 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 directly owned 10,000 shares in the company, valued at $231,100. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jennifer Champoux sold 2,176 shares of Monte Rosa Therapeutics stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.00, for a total transaction of $41,344.00. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. Insiders sold 81,778 shares of company stock valued at $1,768,581 over the last ninety days. Company insiders own 6.40% of the company’s stock.
Hedge Funds Weigh In On Monte Rosa Therapeutics
Hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Monte Rosa Therapeutics by 32.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company’s stock valued at $50,000 after purchasing an additional 776 shares during the last quarter. ProShare Advisors LLC increased its stake in Monte Rosa Therapeutics by 11.8% in the 4th quarter. ProShare Advisors LLC now owns 11,374 shares of the company’s stock valued at $178,000 after buying an additional 1,199 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Monte Rosa Therapeutics by 7.5% in the 4th quarter. MetLife Investment Management LLC now owns 26,187 shares of the company’s stock worth $411,000 after buying an additional 1,831 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Monte Rosa Therapeutics by 9.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 26,955 shares of the company’s stock worth $423,000 after purchasing an additional 2,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Monte Rosa Therapeutics by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 119,836 shares of the company’s stock valued at $540,000 after acquiring an additional 2,529 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.
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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