Anthony Manning Sells 10,000 Shares of Monte Rosa Therapeutics (NASDAQ:GLUE) Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Director Anthony Manning sold 10,000 shares of Monte Rosa Therapeutics 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 directly owned 10,000 shares in the company, valued at approximately $231,100. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Monte Rosa Therapeutics Trading Up 1.3%

GLUE traded up $0.30 during trading on Tuesday, hitting $24.20. 2,334,415 shares of the company’s stock were exchanged, compared to its average volume of 1,373,686. Monte Rosa Therapeutics, Inc. has a 1 year low of $4.12 and a 1 year high of $25.77. The stock has a 50 day moving average price of $19.06 and a 200 day moving average price of $18.69. The firm has a market cap of $2.04 billion, a P/E ratio of -16.35 and a beta of 1.60.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its earnings results on Thursday, May 7th. The company reported ($0.45) earnings per share 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 analyst estimates of $10.95 million. Analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 purchasing an additional 776 shares in the last quarter. Royce & Associates LP raised its position in shares of Monte Rosa Therapeutics by 8.3% in the 3rd quarter. Royce & Associates LP now owns 11,024 shares of the company’s stock valued at $82,000 after purchasing an additional 848 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Monte Rosa Therapeutics by 11.8% during the 4th quarter. ProShare Advisors LLC now owns 11,374 shares of the company’s stock valued at $178,000 after buying an additional 1,199 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Monte Rosa Therapeutics by 7.5% during the 4th quarter. MetLife Investment Management LLC now owns 26,187 shares of the company’s stock valued at $411,000 after buying an additional 1,831 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GLUE. Guggenheim upped their target price on Monte Rosa Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen downgraded Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings raised Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Wells Fargo & Company decreased their price target on Monte Rosa Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Monte Rosa Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

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.