Monte Rosa Therapeutics (NASDAQ:GLUE) Stock Price Down 8.7% – Here’s What Happened

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) were down 8.7% during trading on Friday . The company traded as low as $22.90 and last traded at $22.3760. Approximately 244,445 shares were traded during trading, a decline of 82% from the average session volume of 1,366,863 shares. The stock had previously closed at $24.52.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GLUE. Wells Fargo & Company reduced their target price on shares of Monte Rosa Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Weiss Ratings raised shares of Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Zacks Research cut shares of Monte Rosa Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday. Wall Street Zen downgraded shares of Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Finally, Guggenheim lifted their target price on shares of Monte Rosa Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Monte Rosa Therapeutics Price Performance

The company has a 50 day moving average price of $19.73 and a two-hundred day moving average price of $19.11. The stock has a market cap of $1.92 billion, a PE ratio of -15.36 and a beta of 1.56.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.06). Monte Rosa Therapeutics had a negative net margin of 302.69% and a negative return on equity of 40.99%. The business had revenue of $4.21 million for the quarter, compared to analysts’ expectations of $10.95 million. As a group, equities analysts predict that Monte Rosa Therapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

Insider Activity at Monte Rosa Therapeutics

In other news, COO Jennifer Champoux sold 2,175 shares of Monte Rosa Therapeutics stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $20.00, for a total value of $43,500.00. Following the completion of the sale, the chief operating officer directly owned 62,371 shares in the company, valued at $1,247,420. The trade was a 3.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anthony M. Manning sold 10,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $23.11, for a total transaction of $231,100.00. Following the transaction, the director owned 10,000 shares in the company, valued at approximately $231,100. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 81,778 shares of company stock worth $1,768,581. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in Monte Rosa Therapeutics during the fourth quarter valued at $30,000. Russell Investments Group Ltd. bought a new stake in shares of Monte Rosa Therapeutics during the 3rd quarter valued at about $32,000. Lazard Asset Management LLC grew its stake in shares of Monte Rosa Therapeutics by 42.9% during the 2nd 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 increased its position in shares of Monte Rosa Therapeutics by 16.7% during the 4th 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. increased its position 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 last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

About Monte Rosa Therapeutics

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.