Monte Rosa Therapeutics (NASDAQ:GLUE) Trading Down 6% – Time to Sell?

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) traded down 6% during trading on Tuesday . The company traded as low as $13.14 and last traded at $13.07. 250,129 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,347,425 shares. The stock had previously closed at $13.90.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GLUE. TD Cowen upgraded shares of Monte Rosa Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. JPMorgan Chase & Co. reduced their price target on Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Zacks Research upgraded Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Guggenheim reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Monte Rosa Therapeutics in a research report on Tuesday, August 25th. Finally, Weiss Ratings downgraded Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have issued 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.com, Monte Rosa Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

Monte Rosa Therapeutics Trading Down 2.6%

The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -7.19 and a beta of 1.50. The firm’s 50 day simple moving average is $17.41 and its two-hundred day simple moving average is $18.19.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $8.97 million for the quarter, compared to analyst estimates of $12.91 million. As a group, equities research analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, insider Filip Janku sold 5,407 shares of Monte Rosa Therapeutics 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sharon Townson sold 6,000 shares of the company’s stock in a transaction 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 sale, the insider owned 67,845 shares of the company’s stock, valued at approximately $1,581,466.95. The trade was a 8.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 74,427 shares of company stock worth $1,626,737. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Opaleye Management Inc. acquired a new position in shares of Monte Rosa Therapeutics in the 2nd quarter valued at approximately $18,029,000. Squarepoint Ops LLC boosted its position in shares of Monte Rosa Therapeutics by 123.6% during the 2nd quarter. Squarepoint Ops LLC now owns 82,953 shares of the company’s stock worth $2,007,000 after acquiring an additional 45,846 shares in the last quarter. Arizona State Retirement System bought a new position in Monte Rosa Therapeutics in the second quarter valued at approximately $321,000. HighTower Advisors LLC bought a new position in Monte Rosa Therapeutics in the second quarter valued at approximately $371,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Monte Rosa Therapeutics during the second quarter worth $273,000. Institutional investors own 79.96% of the company’s stock.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company developing small-molecule medicines designed to selectively eliminate disease-causing proteins. The company uses its proprietary Tunable Molecular Glue (TME) platform to identify molecular glue degraders that redirect the cell’s natural protein-degradation machinery toward specific therapeutic targets.

Monte Rosa’s research and development programs address areas including autoimmune and inflammatory diseases, as well as cancer.