Monte Rosa Therapeutics (NASDAQ:GLUE) Trading 6.9% Higher – Still a Buy?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) traded up 6.9% during mid-day trading on Tuesday . The stock traded as high as $24.80 and last traded at $24.8450. Approximately 656,453 shares were traded during trading, a decline of 52% from the average daily volume of 1,368,493 shares. The stock had previously closed at $23.25.

Analyst Ratings Changes

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

Monte Rosa Therapeutics Stock Up 5.3%

The firm’s 50 day simple moving average is $19.43 and its 200 day simple moving average is $18.93. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -16.56 and a beta of 1.56.

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

Insider Activity at Monte Rosa Therapeutics

In other news, insider Sharon Townson sold 3,000 shares of Monte Rosa Therapeutics stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $20.00, for a total transaction of $60,000.00. Following the transaction, the insider directly owned 67,845 shares in the company, valued at approximately $1,356,900. This trade represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Filip Janku sold 30,000 shares of the business’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 completion of the sale, the insider owned 59,992 shares in the company, valued at approximately $1,285,028.64. This trade represents a 33.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 81,623 shares of company stock worth $1,732,119 in the last quarter. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in Monte Rosa Therapeutics by 10.4% during the 4th 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. grew its stake in 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 acquiring an additional 257,547 shares in the last quarter. State Street Corp increased its stake in Monte Rosa Therapeutics by 148.9% in the 4th quarter. State Street Corp now owns 2,107,480 shares of the company’s stock valued at $33,045,000 after buying an additional 1,260,707 shares during the period. AQR Capital Management LLC raised its holdings in shares of Monte Rosa Therapeutics by 459.4% during the second 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 raised its stake in shares of Monte Rosa Therapeutics by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 1,204,844 shares of the company’s stock worth $18,896,000 after purchasing an additional 53,278 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.