Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Given Average Rating of “Moderate Buy” by Analysts

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) have received an average rating of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $28.50.

Several brokerages have commented on GLUE. Zacks Research upgraded Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Weiss Ratings downgraded shares of Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. decreased their price target on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $27.00 target price on shares of Monte Rosa Therapeutics in a research note on Wednesday, September 9th.

Monte Rosa Therapeutics Stock Down 0.4%

Shares of GLUE opened at $12.60 on Friday. The firm has a market cap of $1.07 billion, a PE ratio of -7.16 and a beta of 1.50. The company’s fifty day moving average is $17.17 and its two-hundred day moving average is $18.15. Monte Rosa Therapeutics has a fifty-two week low of $6.23 and a fifty-two week high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). Monte Rosa Therapeutics had a negative return on equity of 43.31% and a negative net margin of 560.85%.The firm had revenue of $8.97 million for the quarter, compared to analyst estimates of $12.91 million. As a group, equities research analysts anticipate that Monte Rosa Therapeutics will post -1.04 earnings per share for the current year.

Insider Activity

In other news, insider Sharon Townson sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $23.31, for a total transaction of $139,860.00. Following the completion of the sale, the insider owned 67,845 shares of the company’s stock, valued at approximately $1,581,466.95. This trade represents a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anthony M. Manning sold 10,000 shares of Monte Rosa Therapeutics stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $23.11, for a total value of $231,100.00. Following the completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at $231,100. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 74,427 shares of company stock valued at $1,626,737. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Opaleye Management Inc. bought a new position in shares of Monte Rosa Therapeutics during the second quarter worth about $18,029,000. Squarepoint Ops LLC grew its position in Monte Rosa Therapeutics by 123.6% in the 2nd quarter. Squarepoint Ops LLC now owns 82,953 shares of the company’s stock worth $2,007,000 after purchasing an additional 45,846 shares during the last quarter. Arizona State Retirement System acquired a new stake in shares of Monte Rosa Therapeutics in the second quarter valued at approximately $321,000. HighTower Advisors LLC acquired a new position in shares of Monte Rosa Therapeutics during the second quarter worth approximately $371,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Monte Rosa Therapeutics during the 2nd quarter worth about $273,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company developing small-molecule medicines designed to selectively eliminate disease-causing proteins. The company uses its proprietary Tunable Molecular Glue (TME) platform to identify molecular glue degraders that redirect the cell’s natural protein-degradation machinery toward specific therapeutic targets.

Monte Rosa’s research and development programs address areas including autoimmune and inflammatory diseases, as well as cancer.