Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Monte Rosa Therapeutics has a “Moderate Buy” consensus rating from 12 analysts: nine buys, one strong buy, one hold, and one sell. The average 12-month price target is $26.67, well above the reported share price of $10.52.
• Institutional investors own approximately 79.96% of GLUE, with Opaleye Management initiating an $18.0 million position and Squarepoint Ops increasing its stake by 123.6% during the second quarter.
• The clinical-stage biotech reported weaker-than-expected quarterly results, posting an adjusted loss of $0.43 per share versus the $0.38 consensus estimate and revenue of $8.97 million versus expectations of $12.91 million.

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twelve ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $26.67.

GLUE has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Weiss Ratings downgraded shares of Monte Rosa Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. TD Cowen raised shares of Monte Rosa Therapeutics to a "strong-buy" rating in a research report on Monday, August 24th. Jefferies Financial Group restated a "buy" rating on shares of Monte Rosa Therapeutics in a report on Monday, July 27th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $28.00 price target on shares of Monte Rosa Therapeutics in a research report on Tuesday, August 25th.

Institutional Trading of Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Opaleye Management Inc. bought a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter worth $18,029,000. Squarepoint Ops LLC lifted its position in shares of Monte Rosa Therapeutics by 123.6% during 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 in the last quarter. Arizona State Retirement System bought a new position in shares of Monte Rosa Therapeutics during the second quarter valued at about $321,000. HighTower Advisors LLC purchased a new position in Monte Rosa Therapeutics during the second quarter worth about $371,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Monte Rosa Therapeutics during the second quarter worth about $273,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Monte Rosa Therapeutics Trading Up 2.1%

Shares of GLUE opened at $10.52 on Tuesday. The firm's 50 day moving average is $13.45 and its 200-day moving average is $17.49. Monte Rosa Therapeutics has a 12 month low of $8.94 and a 12 month high of $25.77. The stock has a market capitalization of $897.49 million, a PE ratio of -5.98 and a beta of 1.37.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $8.97 million during the quarter, compared to analyst estimates of $12.91 million. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. Equities research analysts predict that Monte Rosa Therapeutics will post -1.23 earnings per share for the current fiscal year.

Monte Rosa Therapeutics Company Profile

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary molecular glue degrader platform to identify small molecules that recruit targeted proteins to the cell's natural protein-disposal machinery, potentially addressing proteins that have been difficult to treat with conventional drugs.

Monte Rosa's pipeline is centered primarily on autoimmune and inflammatory diseases, as well as other serious conditions.

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