Monte Rosa Therapeutics (NASDAQ:GLUE) Trading Down 6.9% – What’s Next?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)’s stock price fell 6.9% during mid-day trading on Wednesday . The stock traded as low as $21.33 and last traded at $21.5140. 596,817 shares were traded during trading, a decline of 79% from the average session volume of 2,820,841 shares. The stock had previously closed at $23.10.

Wall Street Analysts Forecast Growth

GLUE has been the subject of a number of research analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $31.00 target price on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. Wells Fargo & Company boosted their price target on shares of Monte Rosa Therapeutics from $22.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Wedbush reiterated an “outperform” rating and set a $37.00 target price on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. Finally, Piper Sandler restated an “overweight” rating and set a $37.00 price target (up previously from $27.50) on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.33.

Monte Rosa Therapeutics Price Performance

The company has a 50 day moving average price of $18.47 and a 200 day moving average price of $11.39. The firm has a market cap of $1.38 billion, a PE ratio of 66.03 and a beta of 1.60.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.06. Monte Rosa Therapeutics had a net margin of 11.54% and a return on equity of 8.28%. The firm had revenue of $12.77 million for the quarter, compared to analyst estimates of $7.37 million. On average, equities analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, CEO Markus Warmuth sold 5,466 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $23.49, for a total value of $128,396.34. Following the completion of the sale, the chief executive officer owned 618,937 shares of the company’s stock, valued at approximately $14,538,830.13. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Monte Rosa Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in shares of Monte Rosa Therapeutics in the fourth quarter valued at $30,000. Russell Investments Group Ltd. acquired a new position in Monte Rosa Therapeutics during the third quarter worth about $32,000. Brighton Jones LLC acquired a new position in Monte Rosa Therapeutics during the second quarter worth about $48,000. Lazard Asset Management LLC lifted its holdings in shares of Monte Rosa Therapeutics by 42.9% in the second quarter. Lazard Asset Management LLC now owns 10,857 shares of the company’s stock valued at $48,000 after purchasing an additional 3,262 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Monte Rosa Therapeutics by 16.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,151 shares of the company’s stock valued at $49,000 after purchasing an additional 451 shares during the last quarter. Institutional investors and hedge funds 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.