Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target Lowered to $29.00 at Wells Fargo & Company

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price objective decreased by Wells Fargo & Company from $30.00 to $29.00 in a research note released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

GLUE has been the topic of a number of other research reports. Zacks Research lowered shares of Monte Rosa Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. TD Cowen reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 7th. Wedbush reiterated an “outperform” rating and set a $37.00 target price on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Jefferies Financial Group reissued a “buy” rating and issued a $31.00 target price on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Monte Rosa Therapeutics in a report on Monday, December 29th. Six equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.80.

Monte Rosa Therapeutics Stock Performance

Shares of GLUE stock opened at $15.76 on Wednesday. The company has a market capitalization of $1.03 billion, a P/E ratio of -34.26 and a beta of 1.63. Monte Rosa Therapeutics has a fifty-two week low of $3.50 and a fifty-two week high of $25.77. The stock has a 50 day moving average price of $19.98 and a two-hundred day moving average price of $14.75.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Tuesday, March 17th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.10). Monte Rosa Therapeutics had a negative return on equity of 14.69% and a negative net margin of 31.23%.The firm had revenue of $2.78 million during the quarter, compared to the consensus estimate of $17.09 million. As a group, equities analysts predict that Monte Rosa Therapeutics will post -1.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Edmund Dunn sold 25,164 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $18.10, for a total value of $455,468.40. Following the completion of the sale, the insider directly owned 22,693 shares of the company’s stock, valued at approximately $410,743.30. This trade represents a 52.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Markus Warmuth sold 5,466 shares of Monte Rosa Therapeutics stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $17.92, for a total transaction of $97,950.72. Following the sale, the chief executive officer directly owned 613,471 shares in the company, valued at $10,993,400.32. The trade was a 0.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 36,771 shares of company stock worth $693,692. Insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Seven Fleet Capital Management LP purchased a new stake in Monte Rosa Therapeutics in the fourth quarter worth about $63,000. Virtu Financial LLC grew its holdings in shares of Monte Rosa Therapeutics by 56.6% during the 4th quarter. Virtu Financial LLC now owns 18,717 shares of the company’s stock worth $293,000 after acquiring an additional 6,765 shares during the period. Invesco Ltd. raised its position in shares of Monte Rosa Therapeutics by 270.0% in the 4th quarter. Invesco Ltd. now owns 362,213 shares of the company’s stock worth $5,680,000 after acquiring an additional 264,315 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Monte Rosa Therapeutics in the 4th quarter valued at approximately $172,000. Finally, Empowered Funds LLC lifted its stake in shares of Monte Rosa Therapeutics by 218.0% in the 4th quarter. Empowered Funds LLC now owns 278,077 shares of the company’s stock valued at $4,360,000 after purchasing an additional 190,627 shares during the period. 79.96% of the stock is owned by institutional investors.

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.