Monte Rosa Therapeutics (NASDAQ:GLUE) Stock Price Down 6% – Should You Sell?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) shares dropped 6% during mid-day trading on Tuesday . The company traded as low as $13.14 and last traded at $13.07. 250,129 shares changed hands during trading, a decline of 81% from the average session volume of 1,347,425 shares. The stock had previously closed at $13.90.

Analysts Set New Price Targets

Several research firms have recently commented on GLUE. Wells Fargo & Company dropped their price objective on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. TD Cowen raised shares of Monte Rosa Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Zacks Research raised Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings downgraded Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.50.

Monte Rosa Therapeutics Trading Down 5.9%

The company has a market cap of $1.12 billion, a price-to-earnings ratio of -7.43 and a beta of 1.50. The business has a fifty day moving average of $17.86 and a two-hundred day moving average of $18.27.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS 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 43.31%. The business had revenue of $8.97 million during the quarter, compared to analysts’ expectations of $12.91 million. On average, research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.04 EPS for the current fiscal year.

Insider Activity at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, insider Filip Janku sold 30,000 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 59,992 shares of the company’s stock, valued at $1,285,028.64. This represents a 33.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer Champoux sold 2,176 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $19.00, for a total value of $41,344.00. Following the completion of the transaction, the chief operating officer owned 62,371 shares in the company, valued at approximately $1,185,049. This trade represents a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 79,603 shares of company stock worth $1,725,081 in the last quarter. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Monte Rosa Therapeutics during the 2nd quarter worth $165,603,000. Jupiter Topco LLC purchased a new position in shares of Monte Rosa Therapeutics in the second quarter worth about $25,965,000. Dimensional Fund Advisors LP boosted its position in Monte Rosa Therapeutics by 83.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,041,372 shares of the company’s stock worth $17,125,000 after acquiring an additional 473,005 shares during the last quarter. Opaleye Management Inc. acquired a new position in Monte Rosa Therapeutics during the second quarter worth about $18,029,000. Finally, Janus Henderson Group PLC purchased a new stake in Monte Rosa Therapeutics during the 1st quarter valued at about $11,294,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company developing small-molecule medicines designed to selectively eliminate disease-causing proteins. The company uses its proprietary Tunable Molecular Glue (TME) platform to identify molecular glue degraders that redirect the cell’s natural protein-degradation machinery toward specific therapeutic targets.

Monte Rosa’s research and development programs address areas including autoimmune and inflammatory diseases, as well as cancer.