Monte Rosa Therapeutics (NASDAQ:GLUE) Rating Increased to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Monte Rosa Therapeutics (NASDAQ:GLUE) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Other analysts have also issued reports about the company. Zacks Research raised Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Jefferies Financial Group reiterated a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Weiss Ratings downgraded Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Guggenheim dropped their price target on Monte Rosa Therapeutics from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Monte Rosa Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $28.50.

Monte Rosa Therapeutics Trading Down 3.7%

GLUE stock opened at $13.77 on Monday. The firm has a 50 day simple moving average of $20.04 and a 200-day simple moving average of $18.77. The company has a market capitalization of $1.17 billion, a P/E ratio of -7.82 and a beta of 1.59. Monte Rosa Therapeutics has a twelve month low of $4.54 and a twelve month high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.05). The company had revenue of $8.97 million during the quarter, compared to analyst estimates of $12.91 million. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. On average, research analysts predict that Monte Rosa Therapeutics will post -1.32 EPS for the current year.

Insider Buying and Selling at Monte Rosa Therapeutics

In other news, Director Anthony M. Manning sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $23.11, for a total transaction of $231,100.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $231,100. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer Champoux sold 2,176 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $19.00, for a total value of $41,344.00. Following the completion of the sale, the chief operating officer directly owned 62,371 shares in the company, valued at approximately $1,185,049. This trade represents a 3.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 81,778 shares of company stock worth $1,768,581. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its position in shares of Monte Rosa Therapeutics by 39,776.6% during the second quarter. California State Teachers Retirement System now owns 1,311,543 shares of the company’s stock worth $31,739,000 after acquiring an additional 1,308,254 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Monte Rosa Therapeutics by 239.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,451 shares of the company’s stock worth $1,584,000 after acquiring an additional 46,172 shares during the period. Wellington Management Group LLP lifted its position in Monte Rosa Therapeutics by 61.1% in the 2nd quarter. Wellington Management Group LLP now owns 207,427 shares of the company’s stock valued at $5,020,000 after purchasing an additional 78,635 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in Monte Rosa Therapeutics in the 2nd quarter valued at about $15,778,231,000. Finally, Empowered Funds LLC acquired a new position in Monte Rosa Therapeutics during the 2nd quarter valued at about $7,968,000. 79.96% of the stock is currently owned by 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.