Monte Rosa Therapeutics (NASDAQ:GLUE) Given New $31.00 Price Target at JPMorgan Chase & Co.

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $30.00 to $31.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 52.67% from the stock’s current price.

A number of other brokerages have also issued reports on GLUE. Zacks Research lowered shares of Monte Rosa Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Wells Fargo & Company decreased their price objective on shares of Monte Rosa Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Guggenheim decreased their price objective on shares of Monte Rosa Therapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price objective (up from $27.50) on shares of Monte Rosa Therapeutics in a report on Wednesday, January 14th. Finally, Wall Street Zen downgraded shares of Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Monte Rosa Therapeutics Price Performance

Shares of NASDAQ:GLUE traded up $0.92 during midday trading on Monday, reaching $20.31. The company had a trading volume of 734,908 shares, compared to its average volume of 1,406,125. The stock’s fifty day moving average price is $17.69 and its 200-day moving average price is $17.40. The stock has a market capitalization of $1.72 billion, a P/E ratio of -13.71 and a beta of 1.62. Monte Rosa Therapeutics has a one year low of $3.51 and a one year high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The company had revenue of $4.21 million during the quarter, compared to the consensus estimate of $10.95 million. Monte Rosa Therapeutics had a negative return on equity of 40.99% and a negative net margin of 302.69%. As a group, sell-side analysts forecast that Monte Rosa Therapeutics will post -1.13 earnings per share for the current year.

Insider Transactions at Monte Rosa Therapeutics

In other news, insider Philip Nickson sold 5,845 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $17.69, for a total transaction of $103,398.05. Following the completion of the transaction, the insider owned 55,000 shares in the company, valued at approximately $972,950. This represents a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Markus Warmuth sold 5,466 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $17.92, for a total transaction of $97,950.72. Following the transaction, the chief executive officer owned 613,471 shares of the company’s stock, valued at $10,993,400.32. This represents a 0.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 37,150 shares of company stock worth $668,694. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in shares of Monte Rosa Therapeutics by 16.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,151 shares of the company’s stock worth $49,000 after acquiring an additional 451 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Monte Rosa Therapeutics by 32.5% during 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 during the period. Royce & Associates LP increased its stake in Monte Rosa Therapeutics by 8.3% during the 3rd quarter. Royce & Associates LP now owns 11,024 shares of the company’s stock valued at $82,000 after buying an additional 848 shares during the period. ProShare Advisors LLC increased its stake in Monte Rosa Therapeutics by 11.8% during the 4th quarter. ProShare Advisors LLC now owns 11,374 shares of the company’s stock valued at $178,000 after buying an additional 1,199 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Monte Rosa Therapeutics by 7.5% during the 4th quarter. MetLife Investment Management LLC now owns 26,187 shares of the company’s stock valued at $411,000 after buying an additional 1,831 shares during the period. Institutional investors own 79.96% of the company’s stock.

About Monte Rosa Therapeutics

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.