Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target Lowered to $27.00 at JPMorgan Chase & Co.

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price objective trimmed by JPMorgan Chase & Co. from $31.00 to $27.00 in a research note released on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on GLUE. Guggenheim lowered their target price on Monte Rosa Therapeutics from $35.00 to $28.00 and set a “buy” rating for the company in a research note on Friday. Wedbush decreased their price target on Monte Rosa Therapeutics from $37.00 to $27.00 and set an “outperform” rating on the stock in a report on Monday, August 3rd. Zacks Research upgraded Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group restated a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Finally, Weiss Ratings raised shares of Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.50.

Monte Rosa Therapeutics Trading Up 1.1%

Shares of NASDAQ GLUE opened at $15.88 on Friday. Monte Rosa Therapeutics has a 1-year low of $4.12 and a 1-year high of $25.77. The company has a 50-day moving average of $20.53 and a two-hundred day moving average of $19.35. The company has a market cap of $1.34 billion, a PE ratio of -9.02 and a beta of 1.59.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results 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). Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 48.30%. The company had revenue of $8.97 million during the quarter, compared to analyst estimates of $12.91 million. As a group, equities research analysts forecast that Monte Rosa Therapeutics will post -1.23 earnings per share for the current year.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, insider Filip Janku sold 30,000 shares of the firm’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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer Champoux sold 2,176 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $19.00, for a total value of $41,344.00. Following the transaction, the chief operating officer owned 62,371 shares of the company’s stock, valued at $1,185,049. The trade was a 3.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 81,778 shares of company stock worth $1,768,581. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several large investors have recently bought and sold shares of GLUE. Russell Investments Group Ltd. acquired a new stake in Monte Rosa Therapeutics in the third quarter worth $32,000. Lazard Asset Management LLC grew its holdings in shares of 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 buying an additional 3,262 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Monte Rosa Therapeutics by 32.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company’s stock valued at $50,000 after buying an additional 776 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter valued at $54,000. Finally, Seven Fleet Capital Management LP bought a new stake in shares of Monte Rosa Therapeutics in the 4th quarter valued at $63,000. Institutional investors own 79.96% of the company’s stock.

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.