Wedbush Reiterates “Outperform” Rating for Monte Rosa Therapeutics (NASDAQ:GLUE)

Monte Rosa Therapeutics (NASDAQ:GLUE)‘s stock had its “outperform” rating reiterated by Wedbush in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $27.00 price target on the stock. Wedbush’s price target indicates a potential upside of 89.21% from the company’s current price.

GLUE has been the subject of several other research reports. Weiss Ratings downgraded Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Jefferies Financial Group reissued a “buy” rating on shares of Monte Rosa Therapeutics in a report on Monday, July 27th. JPMorgan Chase & Co. decreased their price target on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. TD Cowen raised shares of Monte Rosa Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Finally, Zacks Research raised shares of Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Monte Rosa Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $28.50.

Monte Rosa Therapeutics Stock Performance

NASDAQ GLUE opened at $14.27 on Wednesday. The firm’s fifty day moving average price is $18.65 and its two-hundred day moving average price is $18.41. The stock has a market cap of $1.22 billion, a PE ratio of -8.11 and a beta of 1.50. Monte Rosa Therapeutics has a fifty-two week low of $4.79 and a fifty-two week high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). The firm had revenue of $8.97 million for the quarter, compared to the consensus estimate of $12.91 million. Monte Rosa Therapeutics had a negative return on equity of 43.31% and a negative net margin of 560.85%. As a group, sell-side analysts predict that Monte Rosa Therapeutics will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Anthony M. Manning sold 10,000 shares of the firm’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 transaction of $231,100.00. Following the completion of the sale, the director owned 10,000 shares of the company’s stock, valued at $231,100. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Filip Janku sold 5,407 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $24.50, for a total value of $132,471.50. Following the sale, the insider directly owned 60,612 shares of the company’s stock, valued at $1,484,994. This represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 79,603 shares of company stock valued at $1,725,081. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of GLUE. ProShare Advisors LLC grew its position in shares of Monte Rosa Therapeutics by 11.8% during the 4th quarter. ProShare Advisors LLC now owns 11,374 shares of the company’s stock worth $178,000 after buying an additional 1,199 shares during the period. Allworth Financial LP acquired a new position in shares of Monte Rosa Therapeutics during the 2nd quarter valued at $30,000. MetLife Investment Management LLC boosted its stake 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 acquiring an additional 1,831 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings 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 worth $540,000 after purchasing an additional 2,529 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Monte Rosa Therapeutics by 18.5% in the first quarter. SG Americas Securities LLC now owns 20,468 shares of the company’s stock worth $337,000 after purchasing an additional 3,189 shares during the period. 79.96% of the stock is currently owned by institutional investors.

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.