Monte Rosa Therapeutics (NASDAQ:GLUE) Trading Down 6.4% – Here’s What Happened

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)’s share price was down 6.4% during mid-day trading on Monday . The company traded as low as $16.44 and last traded at $16.1850. Approximately 166,467 shares traded hands during trading, a decline of 81% from the average daily volume of 869,622 shares. The stock had previously closed at $17.29.

Analyst Upgrades and Downgrades

GLUE has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Monte Rosa Therapeutics in a research note on Monday, December 22nd. Jefferies Financial Group restated a “buy” rating and issued a $22.00 price objective on shares of Monte Rosa Therapeutics in a research note on Wednesday, December 17th. Finally, Wells Fargo & Company lifted their target price on Monte Rosa Therapeutics from $10.00 to $13.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.75.

Monte Rosa Therapeutics Trading Down 8.5%

The company has a market cap of $1.03 billion, a price-to-earnings ratio of 49.69 and a beta of 1.59. The business has a fifty day moving average of $14.63 and a two-hundred day moving average of $8.86.

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, topping analysts’ consensus estimates of ($0.39) by $0.06. The company had revenue of $12.77 million during the quarter, compared to analysts’ expectations of $7.37 million. Monte Rosa Therapeutics had a net margin of 11.54% and a return on equity of 8.28%. On average, research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new stake in Monte Rosa Therapeutics in the 3rd quarter valued at $32,000. BNP Paribas Financial Markets raised its holdings in shares of Monte Rosa Therapeutics by 88.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,733 shares of the company’s stock worth $72,000 after acquiring an additional 4,565 shares during the period. Wealth Effects LLC acquired a new position in shares of Monte Rosa Therapeutics during the 3rd quarter valued at about $75,000. Prelude Capital Management LLC purchased a new stake in shares of Monte Rosa Therapeutics in the third quarter valued at about $76,000. Finally, Brighton Jones LLC purchased a new stake in shares of Monte Rosa Therapeutics in the second quarter valued at about $48,000. 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.