Monte Rosa Therapeutics (NASDAQ:GLUE) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Monte Rosa Therapeutics (NASDAQ:GLUE) from a hold rating to a strong sell rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the company. Guggenheim raised their price objective on Monte Rosa Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Weiss Ratings upgraded Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. raised their price target on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Finally, Wells Fargo & Company cut their price objective 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. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Monte Rosa Therapeutics Price Performance

NASDAQ:GLUE opened at $24.40 on Monday. The firm has a 50 day simple moving average of $19.52 and a 200-day simple moving average of $18.98. The firm has a market cap of $2.06 billion, a PE ratio of -16.49 and a beta of 1.56. Monte Rosa Therapeutics has a 1-year low of $4.12 and a 1-year high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its earnings results on Thursday, May 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The firm had revenue of $4.21 million for the quarter, compared to analyst estimates of $10.95 million. Monte Rosa Therapeutics had a negative return on equity of 40.99% and a negative net margin of 302.69%. As a group, sell-side analysts expect that Monte Rosa Therapeutics will post -1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Filip Janku sold 30,000 shares of Monte Rosa Therapeutics stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $21.42, for a total transaction of $642,600.00. Following the transaction, the insider owned 59,992 shares in the company, valued at approximately $1,285,028.64. The trade was a 33.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jennifer Champoux sold 2,176 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $19.00, for a total transaction of $41,344.00. Following the sale, the chief operating officer directly owned 62,371 shares of the company’s stock, valued at approximately $1,185,049. This trade represents a 3.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 87,623 shares of company stock worth $1,871,979. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Monte Rosa Therapeutics by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,118,904 shares of the company’s stock worth $80,265,000 after buying an additional 481,844 shares during the period. Vanguard Group Inc. raised its holdings in shares of Monte Rosa Therapeutics by 8.6% during the 4th quarter. Vanguard Group Inc. now owns 3,246,500 shares of the company’s stock valued at $50,905,000 after buying an additional 257,547 shares during the period. State Street Corp lifted its position in Monte Rosa Therapeutics by 148.9% during the 4th quarter. State Street Corp now owns 2,107,480 shares of the company’s stock worth $33,045,000 after acquiring an additional 1,260,707 shares in the last quarter. AQR Capital Management LLC lifted its position in Monte Rosa Therapeutics by 459.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company’s stock worth $5,791,000 after acquiring an additional 1,054,406 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Monte Rosa Therapeutics by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 1,204,844 shares of the company’s stock worth $18,896,000 after acquiring an additional 53,278 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

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.