Monte Rosa Therapeutics (NASDAQ:GLUE) Shares Down 6.4% – Here’s Why

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)’s share price was down 6.4% during trading on Monday . The stock traded as low as $16.44 and last traded at $16.1850. Approximately 166,467 shares changed hands during trading, a decline of 81% from the average daily volume of 869,622 shares. The stock had previously closed at $17.29.

Analysts Set New Price Targets

GLUE has been the topic of several recent research reports. Wells Fargo & Company increased their target price on shares of Monte Rosa Therapeutics from $10.00 to $13.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 price target on shares of Monte Rosa Therapeutics in a research report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Monte Rosa Therapeutics in a report on Monday, December 22nd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.75.

Monte Rosa Therapeutics Stock Down 8.5%

The firm has a market capitalization of $1.03 billion, a PE ratio of 49.69 and a beta of 1.59. The company’s 50-day simple moving average is $14.63 and its 200 day simple moving average is $8.86.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.06. The firm had revenue of $12.77 million during the quarter, compared to analyst estimates of $7.37 million. Monte Rosa Therapeutics had a net margin of 11.54% and a return on equity of 8.28%. On average, sell-side analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vestal Point Capital LP acquired a new stake in Monte Rosa Therapeutics in the third quarter worth about $5,928,000. Scientech Research LLC purchased a new position in shares of Monte Rosa Therapeutics in the 3rd quarter valued at approximately $120,000. Prelude Capital Management LLC purchased a new position in shares of Monte Rosa Therapeutics in the 3rd quarter valued at approximately $76,000. Millennium Management LLC boosted its stake in Monte Rosa Therapeutics by 588.4% in the 3rd quarter. Millennium Management LLC now owns 444,939 shares of the company’s stock worth $3,297,000 after purchasing an additional 380,308 shares in the last quarter. Finally, Brevan Howard Capital Management LP boosted its stake in Monte Rosa Therapeutics by 31.2% in the 3rd quarter. Brevan Howard Capital Management LP now owns 46,912 shares of the company’s stock worth $348,000 after purchasing an additional 11,165 shares in the last quarter. 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.