Monte Rosa Therapeutics (NASDAQ:GLUE) Insider Sells $103,398.05 in Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) insider Philip Nickson sold 5,845 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $17.69, for a total value of $103,398.05. Following the sale, the insider owned 55,000 shares in the company, valued at $972,950. The trade was a 9.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Monte Rosa Therapeutics Price Performance

Shares of NASDAQ GLUE opened at $17.48 on Monday. The stock’s 50 day moving average price is $17.63 and its two-hundred day moving average price is $16.10. Monte Rosa Therapeutics, Inc. has a 52-week low of $3.51 and a 52-week high of $25.77. The stock has a market capitalization of $1.40 billion, a P/E ratio of -38.00 and a beta of 1.63.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings data 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 net margin of 31.23% and a negative return on equity of 15.12%. The firm had revenue of $2.78 million for the quarter, compared to analyst estimates of $17.09 million. On average, analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors have recently made changes to their positions in GLUE. State Street Corp grew its holdings in shares of Monte Rosa Therapeutics by 148.9% during the fourth quarter. State Street Corp now owns 2,107,480 shares of the company’s stock valued at $33,045,000 after purchasing an additional 1,260,707 shares during the last quarter. MPM Bioimpact LLC bought a new position in Monte Rosa Therapeutics in the 4th quarter worth approximately $18,399,000. AQR Capital Management LLC grew its holdings in Monte Rosa Therapeutics by 459.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company’s stock worth $5,791,000 after buying an additional 1,054,406 shares in the last quarter. Braidwell LP bought a new position in Monte Rosa Therapeutics in the 4th quarter worth approximately $14,870,000. Finally, Vestal Point Capital LP acquired a new stake in Monte Rosa Therapeutics in the 3rd quarter valued at approximately $5,928,000. 79.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and set a $37.00 price objective (up from $27.50) on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 14th. TD Cowen restated a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 7th. Guggenheim cut their price objective on Monte Rosa Therapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Zacks Research cut Monte Rosa Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $31.00 target price on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.80.

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.