Monte Rosa Therapeutics (NASDAQ:GLUE) Shares Up 7.8% – Should You Buy?

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) traded up 7.8% during mid-day trading on Tuesday . The stock traded as high as $19.57 and last traded at $20.1190. 341,754 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,304,115 shares. The stock had previously closed at $18.67.

Analyst Ratings Changes

GLUE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Weiss Ratings upgraded Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Guggenheim reduced their price objective on Monte Rosa Therapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Wall Street Zen lowered Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, Wells Fargo & Company lowered their target price on Monte Rosa Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.50.

Monte Rosa Therapeutics Stock Up 8.7%

The stock has a 50-day simple moving average of $18.66 and a 200-day simple moving average of $18.52. The firm has a market capitalization of $1.72 billion, a PE ratio of -13.72 and a beta of 1.60.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). Monte Rosa Therapeutics had a negative net margin of 302.69% and a negative return on equity of 40.99%. The firm had revenue of $4.21 million for the quarter, compared to analysts’ expectations of $10.95 million. Equities analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

Insider Transactions at Monte Rosa Therapeutics

In other news, insider Sharon Townson sold 3,000 shares of Monte Rosa Therapeutics stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $19.00, for a total value of $57,000.00. Following the completion of the transaction, the insider owned 67,845 shares in the company, valued at $1,289,055. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Champoux sold 2,176 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $19.00, for a total transaction of $41,344.00. Following the sale, the chief operating officer owned 62,371 shares in the company, valued at $1,185,049. The trade was a 3.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 13,196 shares of company stock worth $245,242 over the last quarter. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Hedge funds have recently made changes to their positions in the stock. Seven Fleet Capital Management LP raised its stake in shares of Monte Rosa Therapeutics by 463.3% during the 1st quarter. Seven Fleet Capital Management LP now owns 22,530 shares of the company’s stock valued at $371,000 after purchasing an additional 18,530 shares during the period. Bank of America Corp DE grew its holdings in Monte Rosa Therapeutics by 73.3% during the 1st quarter. Bank of America Corp DE now owns 387,542 shares of the company’s stock valued at $6,375,000 after buying an additional 163,971 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Monte Rosa Therapeutics during the 1st quarter valued at about $11,294,000. Empowered Funds LLC increased its position in shares of Monte Rosa Therapeutics by 9.8% during the first quarter. Empowered Funds LLC now owns 305,398 shares of the company’s stock valued at $5,024,000 after buying an additional 27,321 shares during the period. Finally, Exome Asset Management LLC bought a new stake in shares of Monte Rosa Therapeutics during the first quarter valued at about $2,953,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

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.