Wedbush Cuts Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target to $27.00

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price objective decreased by Wedbush from $37.00 to $27.00 in a research report sent to investors on Monday morning, MarketBeat.com reports. Wedbush currently has an outperform rating on the stock.

GLUE has been the subject of a number of other reports. Zacks Research cut Monte Rosa Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Weiss Ratings raised shares of Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Guggenheim increased their target price on shares of 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 reiterated a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.67.

Monte Rosa Therapeutics Trading Down 2.9%

Shares of GLUE stock opened at $15.61 on Monday. Monte Rosa Therapeutics has a twelve month low of $4.12 and a twelve month high of $25.77. The company’s 50-day moving average price is $20.68 and its 200-day moving average price is $19.43. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -10.55 and a beta of 1.59.

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

Insider Transactions at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, insider Sharon Townson sold 6,000 shares of Monte Rosa Therapeutics stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $23.31, for a total value of $139,860.00. Following the completion of the transaction, the insider directly owned 67,845 shares of the company’s stock, valued at $1,581,466.95. The trade was a 8.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Filip Janku sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $21.42, for a total transaction of $642,600.00. Following the completion of the transaction, the insider directly owned 59,992 shares of the company’s stock, valued at approximately $1,285,028.64. The trade was a 33.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 81,778 shares of company stock valued at $1,768,581. 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 GLUE. Seven Fleet Capital Management LP increased its position in shares of Monte Rosa Therapeutics by 463.3% during the first quarter. Seven Fleet Capital Management LP now owns 22,530 shares of the company’s stock worth $371,000 after acquiring an additional 18,530 shares during the period. Bank of America Corp DE boosted its holdings in Monte Rosa Therapeutics by 73.3% in the first quarter. Bank of America Corp DE now owns 387,542 shares of the company’s stock valued at $6,375,000 after purchasing an additional 163,971 shares during the period. Janus Henderson Group PLC acquired a new position in Monte Rosa Therapeutics during the 1st quarter worth $11,294,000. Empowered Funds LLC grew its stake in Monte Rosa Therapeutics by 9.8% during the 1st quarter. Empowered Funds LLC now owns 305,398 shares of the company’s stock worth $5,024,000 after purchasing an additional 27,321 shares in the last quarter. Finally, Exome Asset Management LLC purchased a new stake in Monte Rosa Therapeutics during the 1st quarter worth about $2,953,000. Institutional investors and hedge funds 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.