Wedbush Has Lowered Expectations for Monte Rosa Therapeutics (NASDAQ:GLUE) Stock Price

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price objective reduced by equities researchers at Wedbush from $37.00 to $27.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective would indicate a potential upside of 62.95% from the company’s current price.

A number of other equities research analysts also recently weighed in on GLUE. Zacks Research downgraded Monte Rosa Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Guggenheim raised their price objective on Monte Rosa Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a report on Monday, July 27th. Weiss Ratings upgraded shares of Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Monte Rosa Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $30.67.

Monte Rosa Therapeutics Stock Performance

Shares of GLUE stock opened at $16.57 on Monday. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -11.20 and a beta of 1.59. Monte Rosa Therapeutics has a one year low of $4.12 and a one year high of $25.77. The company’s 50-day simple moving average is $20.88 and its 200-day simple moving average is $19.60.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). Monte Rosa Therapeutics had a negative net margin of 302.69% and a negative return on equity of 40.99%. The firm had revenue of $4.21 million during the quarter, compared to the consensus estimate of $10.95 million. As a group, research analysts forecast that Monte Rosa Therapeutics will post -1.23 EPS for the current year.

Insider Activity

In other Monte Rosa Therapeutics news, insider Sharon Townson sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $23.31, for a total value of $139,860.00. Following the sale, the insider owned 67,845 shares in the company, valued at approximately $1,581,466.95. This trade represents a 8.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony M. Manning sold 10,000 shares of Monte Rosa Therapeutics stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $23.11, for a total value of $231,100.00. Following the sale, the director directly owned 10,000 shares in the company, valued at approximately $231,100. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 81,778 shares of company stock valued at $1,768,581. 6.40% of the stock is owned by company insiders.

Institutional Trading of Monte Rosa Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its stake in Monte Rosa Therapeutics by 16.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,151 shares of the company’s stock valued at $49,000 after acquiring an additional 451 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Monte Rosa Therapeutics by 32.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company’s stock worth $50,000 after purchasing an additional 776 shares in the last quarter. Seven Fleet Capital Management LP bought a new position in shares of Monte Rosa Therapeutics in the fourth quarter worth $63,000. Russell Investments Group Ltd. acquired a new position in shares of Monte Rosa Therapeutics during the third quarter valued at $32,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Monte Rosa Therapeutics by 88.3% during the third quarter. BNP Paribas Financial Markets now owns 9,733 shares of the company’s stock valued at $72,000 after purchasing an additional 4,565 shares during the period. 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.