Monte Rosa Therapeutics (NASDAQ:GLUE) Earns "Outperform" Rating from Wedbush

Key Points

• Wedbush reaffirmed its “Outperform” rating on Monte Rosa Therapeutics, with a $27 price target implying approximately 89% upside from the reported $14.27 share price.
• Analyst sentiment is generally positive: the stock has a “Moderate Buy” consensus rating and an average price target of $28.50, although recent reports include both upgrades and a downgrade.
• Monte Rosa reported a quarterly loss of $0.43 per share and $8.97 million in revenue, missing consensus estimates of a $0.38 loss and $12.91 million in revenue; insiders have also sold roughly 79,603 shares over the past 90 days.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $27.00 target price on the stock. Wedbush's price target would suggest a potential upside of 89.21% from the stock's current price.

GLUE has been the topic of several other research reports. Weiss Ratings downgraded Monte Rosa Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. TD Cowen upgraded Monte Rosa Therapeutics to a "strong-buy" rating in a report on Monday, August 24th. Wells Fargo & Company dropped their target price on 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. Zacks Research upgraded Monte Rosa Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. reduced their price target on Monte Rosa Therapeutics from $31.00 to $27.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.50.

Monte Rosa Therapeutics Stock Up 3.1%

Monte Rosa Therapeutics stock opened at $14.27 on Wednesday. The company has a 50 day moving average of $18.65 and a 200-day moving average of $18.41. Monte Rosa Therapeutics has a twelve month low of $4.79 and a twelve month high of $25.77. The stock has a market capitalization of $1.22 billion, a PE ratio of -8.11 and a beta of 1.50.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.05). The company 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%. Equities analysts anticipate that Monte Rosa Therapeutics will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, insider Filip Janku sold 5,407 shares of the company's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $24.50, for a total value of $132,471.50. Following the transaction, the insider directly owned 60,612 shares of the company's stock, valued at $1,484,994. This represents a 8.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 owned 10,000 shares in the company, valued at $231,100. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 79,603 shares of company stock valued at $1,725,081. Corporate insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of GLUE. Alphabet Inc. acquired a new position in Monte Rosa Therapeutics in the second quarter valued at about $9,014,000. Vanguard Group Inc. increased its holdings in Monte Rosa Therapeutics by 8.6% in the 4th quarter. Vanguard Group Inc. now owns 3,246,500 shares of the company's stock valued at $50,905,000 after buying an additional 257,547 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Monte Rosa Therapeutics by 55.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 209,801 shares of the company's stock valued at $3,451,000 after buying an additional 75,127 shares in the last quarter. Swiss National Bank bought a new stake in shares of Monte Rosa Therapeutics during the 1st quarter worth approximately $1,005,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Monte Rosa Therapeutics during the 1st quarter worth approximately $6,236,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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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