Monte Rosa Therapeutics (NASDAQ:GLUE) Stock Rating Upgraded by TD Cowen

Key Points

• TD Cowen upgraded Monte Rosa Therapeutics to “strong buy.” The stock has a consensus “moderate buy” rating and an average analyst price target of $28.50, despite several firms recently lowering their targets.
• Shares opened at $13.77, well below the 12-month high of $25.77. The company reported a quarterly loss of $0.43 per share and revenue of $8.97 million, missing analyst expectations for both metrics.
• Insiders have sold 81,778 shares worth approximately $1.77 million over the past 90 days, while institutional investors own about 79.96% of the company.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) was upgraded by analysts at TD Cowen to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently issued reports on the stock. Guggenheim decreased their price objective on shares of Monte Rosa Therapeutics from $35.00 to $28.00 and set a "buy" rating for the company in a report on Friday, August 7th. Wells Fargo & Company dropped their target price on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Zacks Research raised shares of Monte Rosa Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Wedbush decreased their price target on shares of Monte Rosa Therapeutics from $37.00 to $27.00 and set an "outperform" rating for the company in a report on Monday, August 3rd. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $28.50.

Monte Rosa Therapeutics Stock Down 3.7%

Shares of Monte Rosa Therapeutics stock opened at $13.77 on Monday. The stock has a market capitalization of $1.17 billion, a P/E ratio of -7.82 and a beta of 1.59. The stock has a 50 day moving average price of $20.04 and a two-hundred day moving average price of $18.77. Monte Rosa Therapeutics has a 12-month low of $4.54 and a 12-month high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its quarterly 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 net margin of 560.85% and a negative return on equity of 43.31%. The company had revenue of $8.97 million for the quarter, compared to analyst estimates of $12.91 million. Sell-side analysts anticipate that Monte Rosa Therapeutics will post -1.32 earnings per share for the current year.

Insider Transactions at Monte Rosa Therapeutics

In related news, COO Jennifer Champoux sold 2,175 shares of the company's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $20.00, for a total value of $43,500.00. Following the completion of the transaction, the chief operating officer directly owned 62,371 shares in the company, valued at approximately $1,247,420. This represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anthony M. Manning sold 10,000 shares of the firm's 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 completion of the transaction, the director directly owned 10,000 shares of the company's stock, valued at approximately $231,100. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 81,778 shares of company stock worth $1,768,581 over the last 90 days. Insiders own 6.40% of the company's stock.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Large investors have recently modified their holdings of the stock. Allworth Financial LP bought a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Monte Rosa Therapeutics by 32.5% during the 4th 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. Seven Fleet Capital Management LP bought a new position in Monte Rosa Therapeutics during the 4th quarter valued at about $63,000. Russell Investments Group Ltd. acquired a new position in Monte Rosa Therapeutics in the third quarter valued at about $32,000. Finally, E Fund Management Co. Ltd. acquired a new position in Monte Rosa Therapeutics in the second quarter valued at about $200,000. 79.96% of the stock is currently owned by institutional investors.

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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