Monte Rosa Therapeutics’ (GLUE) “Buy” Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of Monte Rosa Therapeutics (NASDAQ:GLUE) in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a $28.00 target price on the stock.

A number of other equities research analysts also recently issued reports on the company. TD Cowen upgraded Monte Rosa Therapeutics to a “strong-buy” rating in a research note on Monday. Jefferies Financial Group reiterated a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. Wells Fargo & Company dropped their price objective on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. JPMorgan Chase & Co. cut their target price on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Finally, Wedbush reduced their target price on shares of Monte Rosa Therapeutics from $37.00 to $27.00 and set an “outperform” rating for the company in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.50.

Monte Rosa Therapeutics Price Performance

GLUE stock opened at $14.32 on Tuesday. Monte Rosa Therapeutics has a 1 year low of $4.60 and a 1 year high of $25.77. The company has a market cap of $1.22 billion, a P/E ratio of -8.14 and a beta of 1.59. The stock’s fifty day moving average price is $19.81 and its 200-day moving average price is $18.67.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. The firm had revenue of $8.97 million for the quarter, compared to analysts’ expectations of $12.91 million. As a group, analysts expect that Monte Rosa Therapeutics will post -1.32 earnings per share for the current year.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, Director Anthony M. Manning sold 10,000 shares of the business’s 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 completion of the sale, the director owned 10,000 shares of the company’s stock, valued at approximately $231,100. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sharon Townson sold 6,000 shares of the company’s 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 sale, the insider owned 67,845 shares of the company’s stock, valued at approximately $1,581,466.95. The trade was a 8.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 79,603 shares of company stock worth $1,725,081. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Allworth Financial LP purchased a new stake in Monte Rosa Therapeutics in the 2nd quarter worth approximately $30,000. Russell Investments Group Ltd. purchased a new position in Monte Rosa Therapeutics during the third quarter valued at approximately $32,000. Lazard Asset Management LLC lifted its holdings in Monte Rosa Therapeutics by 42.9% during the second 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Monte Rosa Therapeutics by 32.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company’s stock valued at $50,000 after purchasing an additional 776 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Monte Rosa Therapeutics in the second quarter worth approximately $54,000. 79.96% of the stock is currently owned by institutional investors.

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.