Monte Rosa Therapeutics (NASDAQ:GLUE) Given New $29.00 Price Target at Wells Fargo & Company

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price target lowered by research analysts at Wells Fargo & Company from $30.00 to $29.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 80.91% from the company’s previous close.

GLUE has been the topic of a number of other research reports. Piper Sandler reiterated an “overweight” rating and set a $37.00 price target (up from $27.50) on shares of Monte Rosa Therapeutics in a report on Wednesday, January 14th. Wedbush reaffirmed an “outperform” rating and set a $37.00 target price on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. Guggenheim cut their target price on Monte Rosa Therapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday. Zacks Research lowered Monte Rosa Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Monte Rosa Therapeutics in a research note on Monday, December 29th. Six 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.80.

Monte Rosa Therapeutics Price Performance

Shares of NASDAQ GLUE opened at $16.03 on Wednesday. The company has a 50 day simple moving average of $20.13 and a 200 day simple moving average of $14.75. Monte Rosa Therapeutics has a 1 year low of $3.50 and a 1 year high of $25.77. The firm has a market cap of $1.04 billion, a PE ratio of 50.10 and a beta of 1.63.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its earnings results on Thursday, March 19th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10). Monte Rosa Therapeutics had a return on equity of 8.28% and a net margin of 11.54%.The business had revenue of $2.78 million for the quarter, compared to the consensus estimate of $17.09 million. As a group, research analysts anticipate that Monte Rosa Therapeutics will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Monte Rosa Therapeutics

In related news, CEO Markus Warmuth sold 5,466 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $17.92, for a total value of $97,950.72. Following the transaction, the chief executive officer owned 613,471 shares in the company, valued at $10,993,400.32. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edmund Dunn sold 25,164 shares of Monte Rosa Therapeutics stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $18.10, for a total value of $455,468.40. Following the completion of the transaction, the insider directly owned 22,693 shares of the company’s stock, valued at approximately $410,743.30. This trade represents a 52.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 36,771 shares of company stock worth $693,692. 6.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Monte Rosa Therapeutics

A number of hedge funds have recently added to or reduced their stakes in GLUE. State Street Corp lifted its stake in Monte Rosa Therapeutics by 148.9% in the fourth quarter. State Street Corp now owns 2,107,480 shares of the company’s stock valued at $33,045,000 after buying an additional 1,260,707 shares during the period. MPM Bioimpact LLC acquired a new stake in shares of Monte Rosa Therapeutics during the 4th quarter worth approximately $18,399,000. AQR Capital Management LLC grew its position in shares of Monte Rosa Therapeutics by 459.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company’s stock worth $5,791,000 after buying an additional 1,054,406 shares during the period. Braidwell LP bought a new stake in shares of Monte Rosa Therapeutics in the 4th quarter valued at $14,870,000. Finally, Vestal Point Capital LP bought a new stake in shares of Monte Rosa Therapeutics in the 3rd quarter valued at $5,928,000. 79.96% of the stock is currently owned by institutional investors.

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.