Guggenheim Cuts Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target to $30.00

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price target trimmed by Guggenheim from $34.00 to $30.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

GLUE has been the topic of several other research reports. Piper Sandler reissued an “overweight” rating and issued a $37.00 target price (up from $27.50) on shares of Monte Rosa Therapeutics in a report on Wednesday, January 14th. Jefferies Financial Group restated a “buy” rating and set a $31.00 target price on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. Wedbush reaffirmed an “outperform” rating and set a $37.00 target price on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 7th. TD Cowen reiterated a “buy” rating on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Monte Rosa Therapeutics in a report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Monte Rosa Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $32.80.

Monte Rosa Therapeutics Stock Performance

Shares of GLUE stock opened at $15.63 on Wednesday. The stock has a fifty day simple moving average of $19.62 and a two-hundred day simple moving average of $14.84. The firm has a market capitalization of $1.25 billion, a PE ratio of -33.98 and a beta of 1.63. Monte Rosa Therapeutics has a 52-week low of $3.50 and a 52-week high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.10). The business had revenue of $2.78 million during the quarter, compared to analysts’ expectations of $17.09 million. Monte Rosa Therapeutics had a negative net margin of 31.23% and a negative return on equity of 15.12%. On average, sell-side analysts forecast that Monte Rosa Therapeutics will post -1.49 EPS for the current fiscal year.

Insider Transactions at Monte Rosa Therapeutics

In other news, insider Edmund Dunn sold 25,164 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $18.10, for a total value of $455,468.40. Following the completion of the transaction, the insider owned 22,693 shares of the company’s stock, valued at $410,743.30. The trade was a 52.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Markus Warmuth sold 5,466 shares of Monte Rosa Therapeutics stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $17.92, for a total transaction of $97,950.72. Following the completion of the transaction, the chief executive officer directly owned 613,471 shares of the company’s stock, valued at $10,993,400.32. The trade was a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,771 shares of company stock worth $693,692 over the last 90 days. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Institutional investors have recently modified their holdings of the business. Seven Fleet Capital Management LP purchased a new stake in shares of Monte Rosa Therapeutics in the fourth quarter valued at approximately $63,000. Virtu Financial LLC increased its holdings in Monte Rosa Therapeutics by 56.6% in the 4th quarter. Virtu Financial LLC now owns 18,717 shares of the company’s stock worth $293,000 after acquiring an additional 6,765 shares in the last quarter. Invesco Ltd. raised its position in Monte Rosa Therapeutics by 270.0% during the fourth quarter. Invesco Ltd. now owns 362,213 shares of the company’s stock worth $5,680,000 after acquiring an additional 264,315 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Monte Rosa Therapeutics during the fourth quarter valued at $172,000. Finally, Empowered Funds LLC lifted its holdings in Monte Rosa Therapeutics by 218.0% during the fourth quarter. Empowered Funds LLC now owns 278,077 shares of the company’s stock valued at $4,360,000 after purchasing an additional 190,627 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.