Zacks Research Upgrades Monte Rosa Therapeutics (NASDAQ:GLUE) to “Hold”

Monte Rosa Therapeutics (NASDAQ:GLUE) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Guggenheim boosted their price objective 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. Wedbush reduced their target price on shares of Monte Rosa Therapeutics from $37.00 to $27.00 and set an “outperform” rating on the stock in a report on Monday. Jefferies Financial Group reiterated a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. JPMorgan Chase & Co. boosted their price target on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Weiss Ratings raised shares of Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

Monte Rosa Therapeutics Trading Down 2.9%

NASDAQ:GLUE opened at $15.61 on Tuesday. Monte Rosa Therapeutics has a 12-month low of $4.12 and a 12-month high of $25.77. The firm has a market cap of $1.32 billion, a PE ratio of -10.55 and a beta of 1.59. The stock has a fifty day moving average price of $20.68 and a 200 day moving average price of $19.43.

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

Insiders Place Their Bets

In other news, insider Filip Janku sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $21.42, for a total transaction of $642,600.00. Following the sale, the insider owned 59,992 shares of the company’s stock, valued at approximately $1,285,028.64. This trade represents a 33.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer Champoux sold 2,176 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $19.00, for a total value of $41,344.00. Following the sale, the chief operating officer owned 62,371 shares of the company’s stock, valued at approximately $1,185,049. The trade was a 3.37% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 81,778 shares of company stock worth $1,768,581. Insiders own 6.40% of the company’s stock.

Institutional Trading of Monte Rosa Therapeutics

Several institutional investors have recently modified their holdings of GLUE. AQR Capital Management LLC acquired a new position in shares of Monte Rosa Therapeutics in the 1st quarter valued at $1,065,000. Goldman Sachs Group Inc. raised its stake in Monte Rosa Therapeutics by 122.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 356,112 shares of the company’s stock worth $1,652,000 after acquiring an additional 196,238 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Monte Rosa Therapeutics during the 1st quarter worth $76,000. Geode Capital Management LLC lifted its position in Monte Rosa Therapeutics by 12.0% in the second quarter. Geode Capital Management LLC now owns 1,124,160 shares of the company’s stock valued at $5,071,000 after acquiring an additional 120,098 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Monte Rosa Therapeutics by 301.4% in the second quarter. American Century Companies Inc. now owns 403,045 shares of the company’s stock valued at $1,818,000 after acquiring an additional 302,639 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.