Monte Rosa Therapeutics (NASDAQ:GLUE) Trading 7.4% Higher on Analyst Upgrade

Key Points

• Monte Rosa Therapeutics shares rose 7.4% to about $14.79 after TD Cowen upgraded the stock to a Strong Buy rating.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $28.50, despite several firms recently lowering their targets.
• The company’s latest quarterly results missed expectations, reporting an adjusted loss of $0.43 per share versus the $0.38 expected and revenue of $8.97 million versus the $12.91 million consensus estimate.

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report) shot up 7.4% during trading on Tuesday after TD Cowen upgraded the stock to a strong-buy rating. The stock traded as high as $14.64 and last traded at $14.7890. 276,253 shares changed hands during trading, a decline of 80% from the average session volume of 1,369,331 shares. The stock had previously closed at $13.77.

A number of other research firms have also recently commented on GLUE. Zacks Research raised Monte Rosa Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Guggenheim decreased their target price on Monte Rosa Therapeutics from $35.00 to $28.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Jefferies Financial Group restated a "buy" rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. JPMorgan Chase & Co. reduced 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 report on Friday, August 7th. Finally, Wedbush dropped their target price on shares of Monte Rosa Therapeutics from $37.00 to $27.00 and set an "outperform" rating for the company in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.50.

Insider Transactions at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, insider Sharon Townson sold 6,000 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $23.31, for a total transaction of $139,860.00. Following the completion of the transaction, the insider owned 67,845 shares in the company, valued at $1,581,466.95. This trade represents a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer Champoux sold 2,175 shares of Monte Rosa Therapeutics stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $20.00, for a total transaction of $43,500.00. Following the completion of the transaction, the chief operating officer directly owned 62,371 shares of the company's stock, valued at $1,247,420. The trade was a 3.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 81,778 shares of company stock valued at $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 added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 during the period. ProShare Advisors LLC boosted its stake in shares of Monte Rosa Therapeutics by 11.8% during the 4th quarter. ProShare Advisors LLC now owns 11,374 shares of the company's stock worth $178,000 after purchasing an additional 1,199 shares during the period. Allworth Financial LP purchased a new position in shares of Monte Rosa Therapeutics during the 2nd quarter worth about $30,000. MetLife Investment Management LLC grew its holdings in Monte Rosa Therapeutics by 7.5% during the 4th quarter. MetLife Investment Management LLC now owns 26,187 shares of the company's stock valued at $411,000 after purchasing an additional 1,831 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Monte Rosa Therapeutics by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 119,836 shares of the company's stock valued at $540,000 after purchasing an additional 2,529 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Monte Rosa Therapeutics Trading Up 7.4%

The company has a market capitalization of $1.26 billion, a PE ratio of -8.35 and a beta of 1.59. The stock's 50-day moving average is $20.04 and its two-hundred day moving average is $18.77.

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 (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.05). The firm had revenue of $8.97 million during the quarter, compared to the consensus estimate of $12.91 million. Monte Rosa Therapeutics had a negative return on equity of 43.31% and a negative net margin of 560.85%. On average, equities research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.32 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source