Monte Rosa Therapeutics (NASDAQ:GLUE) Given New $31.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target on Monte Rosa Therapeutics to $31 from $30 and kept an overweight rating, implying about 52.67% upside from the current share price.
• The stock was up 4.7% to $20.31 in Monday trading, with the company now carrying a market cap of $1.72 billion. Its shares have traded between a 52-week low of $3.51 and a high of $25.77.
• Analysts remain generally positive but mixed: seven Buy ratings, one Hold, and one Sell, with a consensus price target of $32.50. The company also reported a quarterly EPS miss and lower-than-expected revenue in its latest earnings release.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $30.00 to $31.00 in a report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 52.67% from the stock's current price.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company cut their price target on shares of Monte Rosa Therapeutics from $30.00 to $29.00 and set an "overweight" rating on the stock in a report on Wednesday, March 18th. Guggenheim cut their price target on shares of Monte Rosa Therapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Wednesday, March 18th. Piper Sandler restated an "overweight" rating and issued a $37.00 price target (up from $27.50) on shares of Monte Rosa Therapeutics in a report on Wednesday, January 14th. Wall Street Zen lowered shares of Monte Rosa Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, March 21st. Finally, Zacks Research lowered shares of Monte Rosa Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 4th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.50.

Monte Rosa Therapeutics Stock Up 4.7%

Shares of GLUE traded up $0.92 during mid-day trading on Monday, hitting $20.31. The company had a trading volume of 734,908 shares, compared to its average volume of 1,406,125. The business's 50-day simple moving average is $17.69 and its 200-day simple moving average is $17.40. Monte Rosa Therapeutics has a 1-year low of $3.51 and a 1-year high of $25.77. The stock has a market cap of $1.72 billion, a PE ratio of -13.71 and a beta of 1.62.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). Monte Rosa Therapeutics had a negative return on equity of 40.99% and a negative net margin of 302.69%.The company had revenue of $4.21 million during the quarter, compared to analyst estimates of $10.95 million. On average, sell-side analysts expect that Monte Rosa Therapeutics will post -1.13 earnings per share for the current year.

Insider Activity

In other news, insider Edmund Dunn sold 25,164 shares of Monte Rosa Therapeutics stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $18.10, for a total transaction of $455,468.40. Following the sale, the insider owned 22,693 shares in the company, valued at $410,743.30. This trade represents a 52.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Philip Nickson sold 5,845 shares of Monte Rosa Therapeutics stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $17.69, for a total transaction of $103,398.05. Following the sale, the insider owned 55,000 shares in the company, valued at $972,950. This represents a 9.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 37,150 shares of company stock worth $668,694 over the last 90 days. Company insiders own 6.40% of the company's stock.

Institutional Trading of Monte Rosa Therapeutics

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Monte Rosa Therapeutics during the fourth quarter valued at approximately $30,000. Russell Investments Group Ltd. purchased a new stake in shares of Monte Rosa Therapeutics during the third quarter valued at approximately $32,000. Lazard Asset Management LLC raised its stake in shares of Monte Rosa Therapeutics by 42.9% during the second quarter. Lazard Asset Management LLC now owns 10,857 shares of the company's stock valued at $48,000 after purchasing an additional 3,262 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Monte Rosa Therapeutics by 16.7% in the fourth 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Monte Rosa Therapeutics by 32.5% in the fourth 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 last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

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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