Zacks Research Upgrades Monte Rosa Therapeutics (NASDAQ:GLUE) to “Hold”

Monte Rosa Therapeutics (NASDAQ:GLUE) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

GLUE has been the topic of several other research reports. JPMorgan Chase & Co. lifted their price target on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Jefferies Financial Group reiterated a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Guggenheim raised their target price on Monte Rosa Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Weiss Ratings raised Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Finally, Wedbush lowered their price target on Monte Rosa Therapeutics from $37.00 to $27.00 and set an “outperform” rating for the company in a report on Monday. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.67.

Monte Rosa Therapeutics Trading Down 2.9%

Monte Rosa Therapeutics stock opened at $15.61 on Tuesday. Monte Rosa Therapeutics has a 12-month low of $4.12 and a 12-month high of $25.77. The stock has a market cap of $1.32 billion, a P/E ratio of -10.55 and a beta of 1.59. The company has a 50-day moving average price of $20.68 and a 200 day moving average price of $19.43.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). The firm had revenue of $8.97 million for the quarter, compared to analysts’ expectations of $12.91 million. Monte Rosa Therapeutics had a negative return on equity of 40.99% and a negative net margin of 302.69%. As a group, analysts forecast that Monte Rosa Therapeutics will post -1.23 EPS for the current year.

Insider Activity at Monte Rosa Therapeutics

In related news, insider Sharon Townson sold 6,000 shares of Monte Rosa Therapeutics stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $23.31, for a total value of $139,860.00. Following the completion of the sale, the insider owned 67,845 shares in the company, valued at approximately $1,581,466.95. This trade represents a 8.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Filip Janku sold 5,407 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $24.50, for a total value of $132,471.50. Following the completion of the sale, the insider directly owned 60,612 shares in the company, valued at approximately $1,484,994. The trade was a 8.19% 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 worth $1,768,581 over the last quarter. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several hedge funds have recently bought and sold shares of GLUE. AQR Capital Management LLC acquired a new position in Monte Rosa Therapeutics in the 1st quarter valued at about $1,065,000. Goldman Sachs Group Inc. lifted its position in shares of Monte Rosa Therapeutics by 122.7% during the first quarter. Goldman Sachs Group Inc. now owns 356,112 shares of the company’s stock worth $1,652,000 after purchasing an additional 196,238 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Monte Rosa Therapeutics during the first quarter worth about $76,000. Geode Capital Management LLC boosted its stake in shares of Monte Rosa Therapeutics by 12.0% in the second quarter. Geode Capital Management LLC now owns 1,124,160 shares of the company’s stock valued at $5,071,000 after purchasing an additional 120,098 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Monte Rosa Therapeutics by 301.4% in the second quarter. American Century Companies Inc. now owns 403,045 shares of the company’s stock valued at $1,818,000 after purchasing an additional 302,639 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

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.