Monte Rosa Therapeutics (NASDAQ:GLUE) Given New $30.00 Price Target at Guggenheim

Monte Rosa Therapeutics (NASDAQ:GLUE) had its target price lowered by Guggenheim from $34.00 to $30.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group restated a “buy” rating and set a $31.00 price objective on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Wells Fargo & Company lifted their target price on shares of Monte Rosa Therapeutics from $22.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Wedbush reissued an “outperform” rating and set a $37.00 target price on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. Piper Sandler restated an “overweight” rating and set a $37.00 price target (up from $27.50) on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 14th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.80.

Monte Rosa Therapeutics Price Performance

Shares of GLUE stock opened at $15.76 on Wednesday. The stock’s fifty day moving average price is $19.98 and its 200 day moving average price is $14.75. Monte Rosa Therapeutics has a 1-year low of $3.50 and a 1-year high of $25.77. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -34.26 and a beta of 1.63.

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

Insider Activity

In related news, CEO Markus Warmuth sold 5,466 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $17.92, for a total value of $97,950.72. Following the sale, the chief executive officer owned 613,471 shares in the company, valued at $10,993,400.32. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edmund Dunn sold 25,164 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was 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 in the company, valued at approximately $410,743.30. This trade represents a 52.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 36,771 shares of company stock valued at $693,692. Company insiders own 6.90% of the company’s stock.

Institutional Trading of Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of GLUE. GAMMA Investing LLC acquired a new stake in shares of Monte Rosa Therapeutics in the fourth quarter worth $30,000. Russell Investments Group Ltd. acquired a new position in Monte Rosa Therapeutics during the third quarter valued at $32,000. Lazard Asset Management LLC lifted its position in Monte Rosa Therapeutics by 42.9% during the second quarter. Lazard Asset Management LLC now owns 10,857 shares of the company’s stock valued at $48,000 after purchasing an additional 3,262 shares during the period. Nisa Investment Advisors LLC boosted its holdings 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 valued at $49,000 after purchasing an additional 451 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Monte Rosa Therapeutics by 32.5% in the fourth 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 last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.