Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Receives $32.50 Average Price Target from Brokerages

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $32.50.

A number of brokerages have recently issued reports on GLUE. Weiss Ratings raised shares of Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their target price on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Guggenheim lowered their target price on shares of Monte Rosa Therapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Wall Street Zen lowered shares of Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Finally, Wells Fargo & Company lowered 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 research note on Wednesday, March 18th.

Insiders Place Their Bets

In other news, COO Jennifer Champoux sold 2,175 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $20.00, for a total transaction of $43,500.00. Following the completion of the sale, the chief operating officer directly owned 62,371 shares of the company’s stock, valued at approximately $1,247,420. The trade was a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip Nickson sold 5,845 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $17.69, for a total transaction of $103,398.05. Following the completion of the sale, the insider directly owned 55,000 shares of the company’s stock, valued at approximately $972,950. This trade represents a 9.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.40% of the stock is currently owned by insiders.

Institutional Trading of Monte Rosa Therapeutics

A number of hedge funds have recently added to or reduced their stakes in GLUE. GAMMA Investing LLC acquired a new position in shares of Monte Rosa Therapeutics during the fourth quarter valued at about $30,000. Nisa Investment Advisors LLC increased its holdings in Monte Rosa Therapeutics by 16.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,151 shares of the company’s stock worth $49,000 after buying an additional 451 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Monte Rosa Therapeutics by 32.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company’s stock worth $50,000 after buying an additional 776 shares during the period. Seven Fleet Capital Management LP acquired a new position in Monte Rosa Therapeutics in the 4th quarter worth approximately $63,000. Finally, Russell Investments Group Ltd. acquired a new position in Monte Rosa Therapeutics in the 3rd quarter worth approximately $32,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Monte Rosa Therapeutics Stock Up 6.7%

GLUE stock opened at $18.24 on Wednesday. Monte Rosa Therapeutics has a twelve month low of $4.12 and a twelve month high of $25.77. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -12.32 and a beta of 1.60. The firm’s fifty day simple moving average is $18.54 and its two-hundred day simple moving average is $18.41.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The firm had revenue of $4.21 million for the quarter, compared to the consensus estimate of $10.95 million. Monte Rosa Therapeutics had a negative net margin of 302.69% and a negative return on equity of 40.99%. As a group, equities research analysts expect that Monte Rosa Therapeutics will post -1.23 EPS for the current year.

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.