Guggenheim Lowers Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target to $30.00

Monte Rosa Therapeutics (NASDAQ:GLUE) had its target price decreased by equities research analysts at Guggenheim from $34.00 to $30.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price would indicate a potential upside of 87.15% from the company’s current price.

GLUE has been the topic of several other research reports. Wells Fargo & Company lifted their price target 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. Weiss Ratings restated a “sell (d)” rating on shares of Monte Rosa Therapeutics in a research report on Monday, December 29th. Zacks Research cut shares of Monte Rosa Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Wedbush reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Monte Rosa Therapeutics in a report on Wednesday, January 7th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $31.00 price target on shares of Monte Rosa Therapeutics in a research note on Wednesday, January 7th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Monte Rosa Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $32.80.

Monte Rosa Therapeutics Stock Down 2.0%

NASDAQ GLUE opened at $16.03 on Wednesday. Monte Rosa Therapeutics has a 52 week low of $3.50 and a 52 week high of $25.77. The company has a market capitalization of $1.04 billion, a P/E ratio of 50.10 and a beta of 1.63. The stock’s 50-day moving average price is $20.13 and its 200-day moving average price is $14.75.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10). The company had revenue of $2.78 million for the quarter, compared to the consensus estimate of $17.09 million. Monte Rosa Therapeutics had a net margin of 11.54% and a return on equity of 8.28%. Research analysts anticipate that Monte Rosa Therapeutics will post -1.49 EPS for the current year.

Insider Activity at Monte Rosa Therapeutics

In other news, insider Edmund Dunn sold 25,164 shares of Monte Rosa Therapeutics stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $18.10, for a total transaction of $455,468.40. Following the sale, the insider owned 22,693 shares in the company, valued at $410,743.30. This trade represents a 52.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Markus Warmuth sold 5,466 shares of Monte Rosa Therapeutics stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $17.92, for a total transaction of $97,950.72. Following the sale, the chief executive officer owned 613,471 shares in the company, valued at approximately $10,993,400.32. The trade was a 0.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 36,771 shares of company stock valued at $693,692 over the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Monte Rosa Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of GLUE. Price T Rowe Associates Inc. MD lifted its stake in Monte Rosa Therapeutics by 10.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,118,904 shares of the company’s stock worth $80,265,000 after purchasing an additional 481,844 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Monte Rosa Therapeutics by 8.6% during the fourth quarter. Vanguard Group Inc. now owns 3,246,500 shares of the company’s stock valued at $50,905,000 after purchasing an additional 257,547 shares in the last quarter. State Street Corp grew its position in shares of Monte Rosa Therapeutics by 148.9% during the fourth quarter. State Street Corp now owns 2,107,480 shares of the company’s stock valued at $33,045,000 after purchasing an additional 1,260,707 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Monte Rosa Therapeutics by 459.4% in the second quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company’s stock worth $5,791,000 after purchasing an additional 1,054,406 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Monte Rosa Therapeutics by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 1,204,844 shares of the company’s stock worth $18,896,000 after purchasing an additional 53,278 shares during the last quarter. 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.