Monte Rosa Therapeutics (NASDAQ:GLUE) Trading Down 8.2% – Here’s Why

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)’s stock price traded down 8.2% during mid-day trading on Monday . The company traded as low as $14.66 and last traded at $14.0540. 135,437 shares were traded during mid-day trading, a decline of 48% from the average session volume of 259,331 shares. The stock had previously closed at $15.31.

Wall Street Analyst Weigh In

GLUE has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price objective on shares of Monte Rosa Therapeutics in a research report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Monte Rosa Therapeutics in a research report on Monday, December 29th. Finally, Wells Fargo & Company upped their price objective on Monte Rosa Therapeutics from $10.00 to $13.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.75.

Monte Rosa Therapeutics Stock Performance

The stock has a market cap of $927.89 million, a price-to-earnings ratio of 44.55 and a beta of 1.60. The business’s fifty day simple moving average is $15.20 and its 200 day simple moving average is $9.25.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.06. Monte Rosa Therapeutics had a return on equity of 8.28% and a net margin of 11.54%.The business had revenue of $12.77 million for the quarter, compared to the consensus estimate of $7.37 million. As a group, analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in shares of Monte Rosa Therapeutics in the fourth quarter worth $30,000. Vestal Point Capital LP acquired a new stake in Monte Rosa Therapeutics during the 3rd quarter worth about $5,928,000. Scientech Research LLC purchased a new position in Monte Rosa Therapeutics during the 3rd quarter valued at about $120,000. Prelude Capital Management LLC purchased a new stake in shares of Monte Rosa Therapeutics in the third quarter worth approximately $76,000. Finally, Millennium Management LLC boosted its holdings in shares of Monte Rosa Therapeutics by 588.4% during the third quarter. Millennium Management LLC now owns 444,939 shares of the company’s stock worth $3,297,000 after purchasing an additional 380,308 shares during the period. 79.96% of the stock is 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.