Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target Lowered to $27.00 at Wells Fargo & Company

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price objective cut by Wells Fargo & Company from $29.00 to $27.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently commented on GLUE. Guggenheim raised their price objective on shares of Monte Rosa Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. JPMorgan Chase & Co. boosted 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. Weiss Ratings upgraded shares of Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Finally, Wedbush lowered their price target on shares of Monte Rosa Therapeutics from $37.00 to $27.00 and set an “outperform” rating for the company in a report on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Monte Rosa Therapeutics has an average rating of “Moderate Buy” and an average price target of $28.50.

Monte Rosa Therapeutics Stock Up 1.1%

NASDAQ GLUE opened at $15.88 on Friday. The company has a 50-day moving average price of $20.53 and a 200-day moving average price of $19.35. Monte Rosa Therapeutics has a 52 week low of $4.12 and a 52 week high of $25.77. The firm has a market capitalization of $1.34 billion, a P/E ratio of -9.02 and a beta of 1.59.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced 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). Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 48.30%. The business had revenue of $8.97 million for the quarter, compared to analysts’ expectations of $12.91 million. As a group, equities research analysts anticipate that Monte Rosa Therapeutics will post -1.23 EPS for the current year.

Insider Buying and Selling

In other news, Director Anthony M. Manning sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $23.11, for a total value of $231,100.00. Following the sale, the director directly owned 10,000 shares in the company, valued at approximately $231,100. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Filip Janku sold 5,407 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was 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 of the company’s stock, valued at $1,484,994. The trade was a 8.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 81,778 shares of company stock worth $1,768,581 over the last quarter. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. purchased a new stake in shares of Monte Rosa Therapeutics in the 3rd quarter valued at $32,000. Lazard Asset Management LLC raised its position in shares of Monte Rosa Therapeutics by 42.9% in the second quarter. Lazard Asset Management LLC now owns 10,857 shares of the company’s stock worth $48,000 after acquiring an additional 3,262 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Monte Rosa Therapeutics by 32.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company’s stock valued at $50,000 after acquiring an additional 776 shares during the period. Prudential Financial Inc. acquired a new position in shares of Monte Rosa Therapeutics during the 2nd quarter worth approximately $54,000. Finally, Seven Fleet Capital Management LP acquired a new stake in Monte Rosa Therapeutics in the 4th quarter valued at $63,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

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.