Monte Rosa Therapeutics (NASDAQ:GLUE) Issues Earnings Results, Misses Estimates By $0.05 EPS

Monte Rosa Therapeutics (NASDAQ:GLUE) released its quarterly earnings results on Thursday. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05), FiscalAI reports. Monte Rosa Therapeutics had a negative return on equity of 48.30% and a negative net margin of 560.85%.The firm had revenue of $8.97 million for the quarter, compared to analysts’ expectations of $12.91 million.

Monte Rosa Therapeutics Stock Up 1.1%

GLUE traded up $0.17 on Friday, hitting $15.88. 1,031,388 shares of the company traded hands, compared to its average volume of 1,631,805. The company has a 50 day moving average of $20.53 and a 200-day moving average of $19.35. The stock has a market capitalization of $1.34 billion, a PE ratio of -9.02 and a beta of 1.59. Monte Rosa Therapeutics has a 12-month low of $4.12 and a 12-month high of $25.77.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GLUE shares. JPMorgan Chase & Co. decreased their price objective on Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Friday. Wedbush cut 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, August 3rd. Weiss Ratings upgraded shares of Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Guggenheim decreased their price target on shares of Monte Rosa Therapeutics from $35.00 to $28.00 and set a “buy” rating for the company in a research note on Friday. Finally, Zacks Research upgraded shares of Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.50.

Insider Buying and Selling

In other news, Director Anthony M. Manning sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $23.11, for a total value of $231,100.00. Following the transaction, the director 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 transaction 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 company’s stock in a transaction that occurred 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 sale, the insider owned 67,845 shares of the company’s stock, valued at $1,581,466.95. This trade represents a 8.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 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.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MetLife Investment Management LLC raised its holdings in Monte Rosa Therapeutics by 7.5% during the fourth quarter. MetLife Investment Management LLC now owns 26,187 shares of the company’s stock worth $411,000 after purchasing an additional 1,831 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Monte Rosa Therapeutics by 2.2% in the second 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 period. Lazard Asset Management LLC boosted its holdings in 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 in the last quarter. Man Group plc boosted its holdings in Monte Rosa Therapeutics by 11.5% in the 3rd quarter. Man Group plc now owns 40,575 shares of the company’s stock valued at $301,000 after purchasing an additional 4,184 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Monte Rosa Therapeutics during the 3rd quarter worth approximately $32,000. 79.96% of the stock is currently 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.