Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE – Get Free Report) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $28.50.
A number of equities analysts recently commented on GLUE shares. Weiss Ratings downgraded Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. Wells Fargo & Company reduced their price target on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, TD Cowen upgraded shares of Monte Rosa Therapeutics to a “strong-buy” rating in a report on Monday, August 24th.
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Monte Rosa Therapeutics Stock Down 1.4%
Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.05). The business had revenue of $8.97 million during 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%. As a group, research analysts anticipate that Monte Rosa Therapeutics will post -1.04 earnings per share for the current fiscal year.
Insider Transactions at Monte Rosa Therapeutics
In other Monte Rosa Therapeutics news, Director Anthony Manning sold 10,000 shares of Monte Rosa Therapeutics stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $23.11, for a total transaction of $231,100.00. Following the completion of the sale, the director directly owned 10,000 shares of the company’s stock, valued at $231,100. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sharon Townson sold 6,000 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $23.31, for a total transaction of $139,860.00. Following the completion of the transaction, the insider owned 67,845 shares of the company’s stock, valued at approximately $1,581,466.95. The trade was a 8.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 27,407 shares of company stock valued at $641,132. Insiders own 6.40% of the company’s stock.
Institutional Investors Weigh In On Monte Rosa Therapeutics
A number of institutional investors have recently added to or reduced their stakes in the business. Opaleye Management Inc. acquired a new stake in shares of Monte Rosa Therapeutics during the second quarter valued at about $18,029,000. Squarepoint Ops LLC increased its stake in Monte Rosa Therapeutics by 123.6% in the second quarter. Squarepoint Ops LLC now owns 82,953 shares of the company’s stock valued at $2,007,000 after purchasing an additional 45,846 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of Monte Rosa Therapeutics during the second quarter worth about $321,000. HighTower Advisors LLC purchased a new stake in Monte Rosa Therapeutics in the second quarter valued at approximately $371,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Monte Rosa Therapeutics in the second quarter valued at $273,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.
About Monte Rosa Therapeutics
Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company developing small-molecule medicines designed to selectively eliminate disease-causing proteins. The company uses its proprietary Tunable Molecular Glue (TME) platform to identify molecular glue degraders that redirect the cell’s natural protein-degradation machinery toward specific therapeutic targets.
Monte Rosa’s research and development programs address areas including autoimmune and inflammatory diseases, as well as cancer.
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