Monte Rosa Therapeutics (NASDAQ:GLUE) Given New $27.00 Price Target at Wells Fargo & Company

Monte Rosa Therapeutics (NASDAQ:GLUE) had its target price reduced by analysts at Wells Fargo & Company from $29.00 to $27.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 70.19% from the stock’s previous close.

GLUE has been the subject of several other reports. Weiss Ratings upgraded Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. upped their target price on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Guggenheim increased their price target on shares of Monte Rosa Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Wedbush reduced their price target on shares of Monte Rosa Therapeutics from $37.00 to $27.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Monte Rosa Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $30.33.

Monte Rosa Therapeutics Price Performance

NASDAQ GLUE opened at $15.87 on Friday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -10.72 and a beta of 1.59. The stock’s fifty day moving average price is $20.60 and its 200 day moving average price is $19.37. Monte Rosa Therapeutics has a 1 year low of $4.12 and a 1 year high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). The firm had revenue of $8.97 million for the quarter, compared to analyst estimates of $12.91 million. Monte Rosa Therapeutics had a negative return on equity of 40.99% and a negative net margin of 302.69%. Research analysts expect that Monte Rosa Therapeutics will post -1.23 earnings per share for the current year.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, insider Sharon Townson sold 6,000 shares of Monte Rosa Therapeutics stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $23.31, for a total transaction of $139,860.00. Following the completion of the transaction, the insider owned 67,845 shares in the company, valued at approximately $1,581,466.95. This trade represents a 8.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Filip Janku sold 30,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $21.42, for a total value of $642,600.00. Following the completion of the transaction, the insider directly owned 59,992 shares of the company’s stock, valued at approximately $1,285,028.64. This trade represents a 33.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 81,778 shares of company stock worth $1,768,581. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Monte Rosa Therapeutics by 8.6% in the fourth quarter. Vanguard Group Inc. now owns 3,246,500 shares of the company’s stock valued at $50,905,000 after buying an additional 257,547 shares in the last quarter. Swiss National Bank acquired a new position in shares of Monte Rosa Therapeutics during the 1st quarter worth approximately $1,005,000. Janus Henderson Group PLC purchased a new position in shares of Monte Rosa Therapeutics during the 1st quarter valued at approximately $11,294,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Monte Rosa Therapeutics by 110.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 647,739 shares of the company’s stock valued at $10,655,000 after buying an additional 340,088 shares in the last quarter. Finally, Exome Asset Management LLC acquired a new stake in Monte Rosa Therapeutics in the 1st quarter valued at $2,953,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Monte Rosa Therapeutics Company Profile

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.