Monte Rosa Therapeutics (NASDAQ:GLUE) Director Anthony Manning Sells 10,000 Shares

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Director Anthony Manning sold 10,000 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $23.11, for a total transaction of $231,100.00. Following the completion of the sale, the director directly owned 10,000 shares in the company, valued at $231,100. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Monte Rosa Therapeutics Trading Up 1.3%

GLUE stock traded up $0.30 during mid-day trading on Tuesday, hitting $24.20. 2,334,415 shares of the company were exchanged, compared to its average volume of 1,373,686. The company has a market capitalization of $2.04 billion, a PE ratio of -16.35 and a beta of 1.60. Monte Rosa Therapeutics, Inc. has a twelve month low of $4.12 and a twelve month high of $25.77. The firm has a fifty day simple moving average of $19.06 and a 200 day simple moving average of $18.69.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its earnings results on Thursday, May 7th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The company had revenue of $4.21 million during the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GLUE. Wall Street Zen cut Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings upgraded Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Guggenheim boosted their price target on Monte Rosa Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company dropped their price target on Monte Rosa Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. raised their price objective on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.33.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Monte Rosa Therapeutics by 8.6% in the 4th 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 last quarter. Massachusetts Financial Services Co. MA bought a new position in Monte Rosa Therapeutics during the 4th quarter worth $778,000. Strs Ohio acquired a new stake in Monte Rosa Therapeutics in the fourth quarter worth $566,000. CWM LLC increased its position in Monte Rosa Therapeutics by 13.6% in the fourth quarter. CWM LLC now owns 29,444 shares of the company’s stock worth $462,000 after buying an additional 3,536 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Monte Rosa Therapeutics by 32.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company’s stock valued at $50,000 after buying an additional 776 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.