Zacks Research Downgrades Monte Rosa Therapeutics (NASDAQ:GLUE) to Hold

Monte Rosa Therapeutics (NASDAQ:GLUE) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 target price (up from $27.50) on shares of Monte Rosa Therapeutics in a report on Wednesday, January 14th. Wells Fargo & Company lifted their target price on shares of Monte Rosa Therapeutics from $22.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Guggenheim increased their price target on shares of Monte Rosa Therapeutics from $16.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Wedbush reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Finally, TD Cowen reiterated a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 7th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Monte Rosa Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $31.33.

Monte Rosa Therapeutics Trading Down 3.2%

Shares of Monte Rosa Therapeutics stock opened at $18.90 on Wednesday. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 59.06 and a beta of 1.61. Monte Rosa Therapeutics has a 12-month low of $3.50 and a 12-month high of $25.77. The firm’s 50 day simple moving average is $19.22 and its two-hundred day simple moving average is $12.03.

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

Insiders Place Their Bets

In other Monte Rosa Therapeutics news, CEO Markus Warmuth sold 5,466 shares of the 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 transaction, the chief executive officer directly owned 618,937 shares of the company’s stock, valued at $14,538,830.13. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its stake in shares of 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 buying an additional 451 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Monte Rosa Therapeutics by 32.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,164 shares of the company’s stock valued at $50,000 after acquiring an additional 776 shares during the last quarter. Royce & Associates LP lifted its stake in Monte Rosa Therapeutics by 8.3% in 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 purchased a new stake in shares of Monte Rosa Therapeutics in the fourth quarter valued at approximately $30,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Monte Rosa Therapeutics by 9.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 26,955 shares of the company’s stock valued at $423,000 after purchasing an additional 2,358 shares during the last quarter. Institutional investors and hedge funds 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.