Monte Rosa Therapeutics (NASDAQ:GLUE) Stock Price Down 4.1% Following Analyst Downgrade

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)’s stock price dropped 4.1% during trading on Monday after Wedbush lowered their price target on the stock from $37.00 to $27.00. Wedbush currently has an outperform rating on the stock. Monte Rosa Therapeutics traded as low as $15.81 and last traded at $15.8410. Approximately 634,045 shares were traded during trading, a decline of 54% from the average daily volume of 1,386,235 shares. The stock had previously closed at $16.52.

Other equities analysts also recently issued research reports about the company. Zacks Research downgraded Monte Rosa Therapeutics from a “hold” rating to a “strong sell” rating in a research 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. JPMorgan Chase & Co. upped their price target on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Guggenheim boosted their price objective 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. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Monte Rosa Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

Insider Buying and Selling

In related news, COO Jennifer Champoux sold 2,176 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $19.00, for a total value of $41,344.00. Following the sale, the chief operating officer directly owned 62,371 shares of the company’s stock, valued at $1,185,049. This represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony M. Manning sold 10,000 shares of the company’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 in the company, valued at approximately $231,100. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 81,778 shares of company stock valued at $1,768,581 in the last 90 days. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in Monte Rosa Therapeutics by 10.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,118,904 shares of the company’s stock worth $80,265,000 after purchasing an additional 481,844 shares during the period. Vanguard Group Inc. increased its stake in Monte Rosa Therapeutics by 8.6% in the fourth quarter. Vanguard Group Inc. now owns 3,246,500 shares of the company’s stock worth $50,905,000 after purchasing an additional 257,547 shares during the period. State Street Corp boosted its stake in shares of Monte Rosa Therapeutics by 148.9% during the fourth quarter. State Street Corp now owns 2,107,480 shares of the company’s stock valued at $33,045,000 after purchasing an additional 1,260,707 shares during the period. AQR Capital Management LLC increased its stake in Monte Rosa Therapeutics by 459.4% in 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. Finally, Geode Capital Management LLC grew its stake in Monte Rosa Therapeutics by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 1,204,844 shares of the company’s stock worth $18,896,000 after acquiring an additional 53,278 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Monte Rosa Therapeutics Price Performance

The stock has a market cap of $1.33 billion, a PE ratio of -10.67 and a beta of 1.59. The business has a fifty day moving average of $20.88 and a 200-day moving average of $19.60.

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

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.