Monte Rosa Therapeutics (NASDAQ:GLUE) Shares Down 8.2% – Here’s What Happened

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) traded down 8.2% during mid-day trading on Monday . The company traded as low as $14.66 and last traded at $14.0540. 135,437 shares were traded during mid-day trading, a decline of 48% from the average session volume of 259,331 shares. The stock had previously closed at $15.31.

Wall Street Analysts Forecast Growth

GLUE has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $22.00 price objective on shares of Monte Rosa Therapeutics in a research note on Wednesday, December 17th. Wells Fargo & Company lifted their price target on shares of Monte Rosa Therapeutics from $10.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Monte Rosa Therapeutics in a research report on Monday, December 29th. Three 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.75.

Monte Rosa Therapeutics Trading Down 6.9%

The company has a market capitalization of $927.89 million, a price-to-earnings ratio of 44.55 and a beta of 1.60. The company has a 50 day moving average price of $15.20 and a 200 day moving average price of $9.25.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.06. Monte Rosa Therapeutics had a return on equity of 8.28% and a net margin of 11.54%.The business had revenue of $12.77 million for the quarter, compared to analysts’ expectations of $7.37 million. Equities analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC acquired a new position in shares of Monte Rosa Therapeutics in the fourth quarter valued at approximately $30,000. Russell Investments Group Ltd. acquired a new stake in Monte Rosa Therapeutics in the 3rd quarter valued at $32,000. Brighton Jones LLC acquired a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter valued at approximately $48,000. Lazard Asset Management LLC raised its stake in Monte Rosa Therapeutics by 42.9% in the second quarter. Lazard Asset Management LLC now owns 10,857 shares of the company’s stock valued at $48,000 after buying an additional 3,262 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in shares of Monte Rosa Therapeutics in the second quarter valued at approximately $54,000. 79.96% of the stock is currently 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.