Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $28.50.

A number of equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company reduced their price objective on Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Zacks Research upgraded shares of Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Jefferies Financial Group restated a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th.

Monte Rosa Therapeutics Stock Down 0.4%

Shares of NASDAQ GLUE opened at $12.60 on Friday. Monte Rosa Therapeutics has a 12 month low of $6.23 and a 12 month high of $25.77. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -7.16 and a beta of 1.50. The business has a fifty day simple moving average of $17.17 and a 200-day simple moving average of $18.15.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.05). The company had revenue of $8.97 million for the quarter, compared to analyst estimates of $12.91 million. Monte Rosa Therapeutics had a negative return on equity of 43.31% and a negative net margin of 560.85%. As a group, sell-side analysts expect that Monte Rosa Therapeutics will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Jennifer Champoux sold 2,175 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $20.00, for a total value of $43,500.00. Following the sale, the chief operating officer owned 62,371 shares of the company’s stock, valued at approximately $1,247,420. This represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sharon Townson sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $23.31, for a total transaction of $139,860.00. Following the sale, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 74,427 shares of company stock valued at $1,626,737. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC boosted its position in shares of Monte Rosa Therapeutics by 11.8% in the 4th quarter. ProShare Advisors LLC now owns 11,374 shares of the company’s stock worth $178,000 after purchasing an additional 1,199 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Monte Rosa Therapeutics during the 2nd quarter worth about $30,000. SG Americas Securities LLC increased its stake in shares of Monte Rosa Therapeutics by 18.5% in the 1st quarter. SG Americas Securities LLC now owns 20,468 shares of the company’s stock valued at $337,000 after acquiring an additional 3,189 shares during the last quarter. Seven Fleet Capital Management LP acquired a new stake in shares of Monte Rosa Therapeutics in the 4th quarter valued at approximately $63,000. Finally, Strs Ohio boosted its stake in Monte Rosa Therapeutics by 18.3% during the 1st quarter. Strs Ohio now owns 42,700 shares of the company’s stock worth $702,000 after acquiring an additional 6,600 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Monte Rosa Therapeutics Company Profile

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company developing small-molecule medicines designed to selectively eliminate disease-causing proteins. The company uses its proprietary Tunable Molecular Glue (TME) platform to identify molecular glue degraders that redirect the cell’s natural protein-degradation machinery toward specific therapeutic targets.

Monte Rosa’s research and development programs address areas including autoimmune and inflammatory diseases, as well as cancer.