Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target Lowered to $27.00 at Wedbush

Key Points

• Wedbush lowered Monte Rosa Therapeutics’ price target to $27 from $37 while maintaining an “outperform” rating, implying roughly 63% upside from the stock’s $16.57 opening price.
• Analyst sentiment remains mixed but generally positive: seven analysts rate the stock a Buy and two rate it a Sell, producing a “Moderate Buy” consensus and an average target of $30.67.
• Monte Rosa reported weaker-than-expected quarterly results, including a $0.45-per-share loss versus a $0.39 consensus loss and revenue of $4.21 million versus $10.95 million expected; insiders have also sold 81,778 shares over the past three months.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) had its price target decreased by stock analysts at Wedbush from $37.00 to $27.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's price objective would indicate a potential upside of 62.95% from the stock's current price.

Several other research firms also recently weighed in on GLUE. Guggenheim increased their target price on Monte Rosa Therapeutics from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Monte Rosa Therapeutics from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. Zacks Research cut shares of Monte Rosa Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Monday, July 6th. Finally, 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 report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Monte Rosa Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $30.67.

Monte Rosa Therapeutics Stock Performance

Shares of NASDAQ GLUE opened at $16.57 on Monday. The firm has a market cap of $1.40 billion, a P/E ratio of -11.20 and a beta of 1.59. Monte Rosa Therapeutics has a 1 year low of $4.12 and a 1 year high of $25.77. The firm's 50 day moving average price is $20.88 and its 200 day moving average price is $19.60.

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

Insider Buying and Selling at Monte Rosa Therapeutics

In related news, COO Jennifer Champoux sold 2,176 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.00, for a total transaction of $41,344.00. Following the completion of the sale, the chief operating officer directly owned 62,371 shares of the company's stock, valued at approximately $1,185,049. This represents a 3.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anthony M. Manning sold 10,000 shares of the firm's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $23.11, for a total transaction of $231,100.00. Following the sale, the director directly owned 10,000 shares of the company's stock, valued at approximately $231,100. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 81,778 shares of company stock valued at $1,768,581. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Monte Rosa Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. acquired a new stake in Monte Rosa Therapeutics during the 3rd quarter valued at approximately $32,000. Lazard Asset Management LLC boosted its stake in shares of Monte Rosa Therapeutics by 42.9% during the 2nd quarter. Lazard Asset Management LLC now owns 10,857 shares of the company's stock valued at $48,000 after buying an additional 3,262 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Monte Rosa Therapeutics by 16.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,151 shares of the company's stock valued at $49,000 after buying an additional 451 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Monte Rosa Therapeutics by 32.5% during 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 in the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Monte Rosa Therapeutics in the second quarter worth $54,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

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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