Monte Rosa Therapeutics (NASDAQ:GLUE) Insider Sharon Townson Sells 3,000 Shares

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) insider Sharon Townson sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $19.00, for a total transaction of $57,000.00. Following the completion of the sale, the insider owned 67,845 shares of the company’s stock, valued at approximately $1,289,055. The trade was a 4.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Monte Rosa Therapeutics Price Performance

Shares of GLUE stock traded down $0.09 on Thursday, hitting $18.32. The stock had a trading volume of 2,507,725 shares, compared to its average volume of 1,308,502. The business has a 50 day moving average of $18.60 and a 200 day moving average of $18.47. Monte Rosa Therapeutics, Inc. has a 12-month low of $4.12 and a 12-month high of $25.77. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -12.38 and a beta of 1.60.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly 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 return on equity of 40.99% and a negative net margin of 302.69%.The firm had revenue of $4.21 million for the quarter, compared to analysts’ expectations of $10.95 million. As a group, research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new stake in shares of Monte Rosa Therapeutics during the 4th quarter worth approximately $30,000. Russell Investments Group Ltd. bought a new stake in shares of Monte Rosa Therapeutics in the 3rd quarter worth approximately $32,000. Lazard Asset Management LLC lifted its stake in Monte Rosa Therapeutics by 42.9% in the second quarter. Lazard Asset Management LLC now owns 10,857 shares of the company’s stock valued at $48,000 after purchasing an additional 3,262 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Monte Rosa Therapeutics by 16.7% in the fourth 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Monte Rosa Therapeutics by 32.5% during the fourth 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 during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Guggenheim cut their target price on Monte Rosa Therapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Weiss Ratings upgraded Monte Rosa Therapeutics from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Wall Street Zen cut Monte Rosa Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. JPMorgan Chase & Co. upped their price objective on Monte Rosa Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company decreased their target price on Monte Rosa Therapeutics from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

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.