Monte Rosa Therapeutics (NASDAQ:GLUE) Shares Down 6.9% – Here’s Why

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)’s stock price fell 6.9% during trading on Wednesday . The company traded as low as $21.33 and last traded at $21.5140. 596,817 shares changed hands during trading, a decline of 79% from the average session volume of 2,820,841 shares. The stock had previously closed at $23.10.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GLUE. TD Cowen reissued a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 7th. Wedbush reissued an “outperform” rating and issued a $37.00 price target on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Jefferies Financial Group reissued a “buy” rating and set a $31.00 target price on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Guggenheim boosted their target price on shares of Monte Rosa Therapeutics from $16.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $37.00 target price (up previously from $27.50) on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.33.

Monte Rosa Therapeutics Stock Performance

The stock’s fifty day simple moving average is $18.47 and its two-hundred day simple moving average is $11.39. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 66.03 and a beta of 1.60.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.06. The firm had revenue of $12.77 million during the quarter, compared to analysts’ expectations of $7.37 million. Monte Rosa Therapeutics had a net margin of 11.54% and a return on equity of 8.28%. On average, equities analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, CEO Markus Warmuth sold 5,466 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $23.49, for a total transaction of $128,396.34. Following the sale, the chief executive officer directly owned 618,937 shares of the company’s stock, valued at $14,538,830.13. The trade was a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several large investors have recently made changes to their positions in GLUE. Mirae Asset Global Investments Co. Ltd. raised its holdings in Monte Rosa Therapeutics by 32.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company’s stock valued at $50,000 after buying an additional 776 shares in the last quarter. CWM LLC increased its stake in Monte Rosa Therapeutics by 13.6% during the fourth quarter. CWM LLC now owns 29,444 shares of the company’s stock valued at $462,000 after acquiring an additional 3,536 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Monte Rosa Therapeutics during the fourth quarter worth $778,000. Brookwood Investment Group LLC acquired a new position in Monte Rosa Therapeutics in the fourth quarter worth about $306,000. Finally, Tema Etfs LLC bought a new stake in Monte Rosa Therapeutics in the fourth quarter valued at $388,000. Institutional investors own 79.96% of the company’s stock.

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.