Philip Nickson Sells 5,845 Shares of Monte Rosa Therapeutics (NASDAQ:GLUE) Stock

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) insider Philip Nickson sold 5,845 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $17.69, for a total transaction of $103,398.05. Following the transaction, the insider owned 55,000 shares in the company, valued at $972,950. This represents a 9.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Monte Rosa Therapeutics Trading Down 3.2%

GLUE stock traded down $0.57 on Friday, hitting $17.48. The company had a trading volume of 711,593 shares, compared to its average volume of 1,591,147. Monte Rosa Therapeutics, Inc. has a 12-month low of $3.51 and a 12-month high of $25.77. The stock’s 50-day simple moving average is $17.69 and its 200 day simple moving average is $15.89. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -38.00 and a beta of 1.63.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its earnings results on Tuesday, March 17th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.10). Monte Rosa Therapeutics had a negative return on equity of 15.12% and a negative net margin of 31.23%.The firm had revenue of $2.78 million during the quarter, compared to analysts’ expectations of $17.09 million. Research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GLUE. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Monte Rosa Therapeutics in a report on Monday, December 29th. Guggenheim decreased their price target on Monte Rosa Therapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Wells Fargo & Company reduced their price objective on Monte Rosa Therapeutics from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Wall Street Zen cut Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target (up from $27.50) on shares of Monte Rosa Therapeutics in a research report on Wednesday, January 14th. Six 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.80.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Monte Rosa Therapeutics by 10.4% during 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 buying an additional 481,844 shares during the period. Vanguard Group Inc. boosted its position in shares of Monte Rosa Therapeutics by 8.6% during the 4th quarter. Vanguard Group Inc. now owns 3,246,500 shares of the company’s stock valued at $50,905,000 after acquiring an additional 257,547 shares during the last quarter. State Street Corp grew its stake in shares of Monte Rosa Therapeutics by 148.9% in the 4th quarter. State Street Corp now owns 2,107,480 shares of the company’s stock valued at $33,045,000 after buying an additional 1,260,707 shares during the period. AQR Capital Management LLC grew its holdings in shares of Monte Rosa Therapeutics by 459.4% during the 2nd 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 period. Finally, Geode Capital Management LLC lifted its holdings in shares of Monte Rosa Therapeutics by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 1,204,844 shares of the company’s stock worth $18,896,000 after acquiring an additional 53,278 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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.