Monte Rosa Therapeutics (NASDAQ:GLUE) Director Anthony Manning Sells 10,000 Shares

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Director Anthony Manning sold 10,000 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $23.11, for a total transaction of $231,100.00. Following the transaction, the director owned 10,000 shares in the company, valued at approximately $231,100. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Monte Rosa Therapeutics Stock Performance

NASDAQ:GLUE opened at $24.20 on Wednesday. Monte Rosa Therapeutics, Inc. has a one year low of $4.12 and a one year high of $25.77. The firm has a market cap of $2.04 billion, a P/E ratio of -16.35 and a beta of 1.60. The firm has a 50-day simple moving average of $19.15 and a 200-day simple moving average of $18.74.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results 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). The business had revenue of $4.21 million during the quarter, compared to analysts’ expectations of $10.95 million. Monte Rosa Therapeutics had a negative return on equity of 40.99% and a negative net margin of 302.69%. On average, research analysts predict that Monte Rosa Therapeutics, Inc. will post -1.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Wall Street Zen cut Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings raised Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Wells Fargo & Company cut their target price on Monte Rosa Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. Finally, Guggenheim boosted their target price on shares of Monte Rosa Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.33.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in Monte Rosa Therapeutics in the fourth quarter worth about $30,000. Russell Investments Group Ltd. acquired a new position in shares of Monte Rosa Therapeutics during the third quarter valued at about $32,000. Lazard Asset Management LLC raised its position in shares of Monte Rosa Therapeutics by 42.9% in the 2nd 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 during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Monte Rosa Therapeutics by 16.7% in the 4th 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. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Monte Rosa Therapeutics by 32.5% in the 4th 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. 79.96% of the stock is owned by institutional investors and hedge funds.

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.