Wells Fargo & Company Lowers Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target to $27.00

Key Points

• Wells Fargo lowered Monte Rosa Therapeutics’ price target from $29 to $27 while maintaining an “overweight” rating, implying roughly 70% upside from the stock’s $15.87 price.
• Analyst sentiment remains broadly positive: seven analysts rate the stock “Buy,” one rates it “Hold,” and one rates it “Sell,” resulting in a “Moderate Buy” consensus and an average target of $30.33.
• Monte Rosa missed quarterly expectations, reporting a $0.43 per-share loss versus the anticipated $0.38 loss and revenue of $8.97 million versus estimates of $12.91 million; insiders have also sold $1.77 million of shares over the past three months.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) had its target price cut by stock analysts at Wells Fargo & Company from $29.00 to $27.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 70.19% from the company's current price.

GLUE has been the subject of several other reports. JPMorgan Chase & Co. upped their target price on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Jefferies Financial Group restated a "buy" rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. Guggenheim lifted their price objective on Monte Rosa Therapeutics from $30.00 to $35.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. Zacks Research raised shares of Monte Rosa Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Finally, 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. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.33.

Monte Rosa Therapeutics Stock Performance

Shares of NASDAQ:GLUE opened at $15.87 on Friday. The firm's 50 day simple moving average is $20.60 and its 200-day simple moving average is $19.37. Monte Rosa Therapeutics has a one year low of $4.12 and a one year high of $25.77. The firm has a market cap of $1.34 billion, a PE ratio of -10.72 and a beta of 1.59.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.05). Monte Rosa Therapeutics had a negative net margin of 302.69% and a negative return on equity of 40.99%. The firm had revenue of $8.97 million during the quarter, compared to analysts' expectations of $12.91 million. Equities research analysts predict that Monte Rosa Therapeutics will post -1.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Anthony M. Manning sold 10,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $23.11, for a total transaction of $231,100.00. Following the completion of the sale, the director owned 10,000 shares in the company, valued at approximately $231,100. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sharon Townson sold 6,000 shares of the firm's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $23.31, for a total value of $139,860.00. Following the completion of the sale, the insider directly owned 67,845 shares of the company's stock, valued at $1,581,466.95. The trade was a 8.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 81,778 shares of company stock worth $1,768,581. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. purchased a new stake in shares of Monte Rosa Therapeutics during the third quarter worth about $32,000. Lazard Asset Management LLC raised its position in shares of Monte Rosa Therapeutics by 42.9% in the 2nd 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 last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Monte Rosa Therapeutics by 32.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company's stock worth $50,000 after purchasing an additional 776 shares in the last quarter. Prudential Financial Inc. acquired a new stake in Monte Rosa Therapeutics in the 2nd quarter worth approximately $54,000. Finally, Seven Fleet Capital Management LP purchased a new stake in Monte Rosa Therapeutics during the 4th quarter worth approximately $63,000. 79.96% of the stock is owned by institutional investors and hedge funds.

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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