Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Receives $31.33 Consensus PT from Brokerages

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) has been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $31.3333.

Several analysts have weighed in on GLUE shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $31.00 price objective on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. Zacks Research cut Monte Rosa Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Guggenheim lifted their price target on Monte Rosa Therapeutics from $16.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price target (up from $27.50) on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company increased their price objective on Monte Rosa Therapeutics from $22.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th.

Monte Rosa Therapeutics Trading Up 3.6%

Shares of GLUE opened at $18.61 on Monday. Monte Rosa Therapeutics has a 1-year low of $3.50 and a 1-year high of $25.77. The firm’s 50-day moving average price is $19.97 and its 200-day moving average price is $13.90. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 58.16 and a beta of 1.63.

Insider Activity

In other Monte Rosa Therapeutics news, insider Edmund Dunn sold 25,164 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $18.10, for a total transaction of $455,468.40. Following the completion of the transaction, the insider owned 22,693 shares of the company’s stock, valued at approximately $410,743.30. This trade represents a 52.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Markus Warmuth sold 5,466 shares of Monte Rosa Therapeutics stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $17.92, for a total transaction of $97,950.72. Following the transaction, the chief executive officer owned 613,471 shares of the company’s stock, valued at $10,993,400.32. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 36,632 shares of company stock valued at $691,195. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in GLUE. GAMMA Investing LLC bought a new stake in shares of Monte Rosa Therapeutics in the fourth quarter worth $30,000. Nisa Investment Advisors LLC boosted its position in Monte Rosa Therapeutics by 16.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,151 shares of the company’s stock worth $49,000 after purchasing an additional 451 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake 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 purchasing an additional 776 shares during the period. Seven Fleet Capital Management LP bought a new stake in shares of Monte Rosa Therapeutics during the 4th quarter valued at about $63,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Monte Rosa Therapeutics during the 3rd quarter valued at about $32,000. Institutional investors 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.