Monte Rosa Therapeutics (NASDAQ:GLUE) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of Monte Rosa Therapeutics (NASDAQ:GLUE) from a strong-buy rating to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company raised their target price on Monte Rosa Therapeutics from $22.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. 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. Jefferies Financial Group reaffirmed a “buy” rating and set a $31.00 price objective on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Guggenheim increased their target price on shares of Monte Rosa Therapeutics from $16.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Finally, TD Cowen restated a “buy” rating on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.33.

Monte Rosa Therapeutics Price Performance

NASDAQ:GLUE opened at $18.90 on Wednesday. Monte Rosa Therapeutics has a one year low of $3.50 and a one year high of $25.77. The company has a market cap of $1.23 billion, a PE ratio of 59.06 and a beta of 1.61. The firm has a 50-day moving average of $19.22 and a 200-day moving average of $12.03.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.06. The business had revenue of $12.77 million for 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 research analysts expect that Monte Rosa Therapeutics will post -1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Markus Warmuth sold 5,466 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $23.49, for a total transaction of $128,396.34. Following the completion of the sale, the chief executive officer owned 618,937 shares in the company, valued at approximately $14,538,830.13. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its position in shares of Monte Rosa Therapeutics by 16.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,151 shares of the company’s stock worth $49,000 after acquiring an additional 451 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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. Royce & Associates LP lifted its holdings in Monte Rosa Therapeutics by 8.3% during the 3rd quarter. Royce & Associates LP now owns 11,024 shares of the company’s stock worth $82,000 after purchasing an additional 848 shares in the last quarter. GAMMA Investing LLC bought a new position in Monte Rosa Therapeutics in the 4th quarter worth about $30,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Monte Rosa Therapeutics by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 26,955 shares of the company’s stock valued at $423,000 after buying an additional 2,358 shares in the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

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.