Monte Rosa Therapeutics (NASDAQ:GLUE) Trading Up 7.4% After Analyst Upgrade

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) shares traded up 7.4% during mid-day trading on Tuesday after TD Cowen upgraded the stock to a strong-buy rating. The company traded as high as $14.64 and last traded at $14.7890. Approximately 276,253 shares traded hands during trading, a decline of 80% from the average daily volume of 1,369,331 shares. The stock had previously closed at $13.77.

Several other analysts also recently weighed in on the company. Zacks Research upgraded Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Wells Fargo & Company dropped their target price on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Guggenheim decreased their price target on shares of Monte Rosa Therapeutics from $35.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Weiss Ratings lowered Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Monte Rosa Therapeutics in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.50.

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, insider Sharon Townson sold 6,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 67,845 shares in the company, valued at $1,581,466.95. This represents a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Champoux sold 2,175 shares of the stock in a transaction on 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 directly owned 62,371 shares in the company, valued at $1,247,420. This trade represents a 3.37% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 81,778 shares of company stock worth $1,768,581. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new stake in shares of Monte Rosa Therapeutics during the second quarter valued at about $30,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 buying an additional 776 shares during the last quarter. Seven Fleet Capital Management LP purchased a new position in shares of Monte Rosa Therapeutics in the 4th quarter worth approximately $63,000. Russell Investments Group Ltd. bought a new position in shares of Monte Rosa Therapeutics during the 3rd quarter worth approximately $32,000. Finally, E Fund Management Co. Ltd. bought a new position in shares of Monte Rosa Therapeutics during the 2nd quarter worth approximately $200,000. 79.96% of the stock is currently owned by institutional investors.

Monte Rosa Therapeutics Price Performance

The company has a market cap of $1.26 billion, a PE ratio of -8.35 and a beta of 1.59. The stock’s 50-day moving average is $20.04 and its 200 day moving average is $18.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings results 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). Monte Rosa Therapeutics had a negative return on equity of 43.31% and a negative net margin of 560.85%.The firm had revenue of $8.97 million during the quarter, compared to analysts’ expectations of $12.91 million. On average, analysts expect that Monte Rosa Therapeutics, Inc. will post -1.32 EPS for the current year.

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.