Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target Cut to $27.00 by Analysts at JPMorgan Chase & Co.

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price target reduced by JPMorgan Chase & Co. from $31.00 to $27.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 68.70% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Zacks Research upgraded Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Wedbush lowered their target price on shares of Monte Rosa Therapeutics from $37.00 to $27.00 and set an “outperform” rating on the stock in a report on Monday. Wells Fargo & Company dropped their price target on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday. Guggenheim decreased their price objective on shares of Monte Rosa Therapeutics from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday. Finally, Weiss Ratings upgraded shares of Monte Rosa Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Monte Rosa Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $28.50.

Monte Rosa Therapeutics Trading Up 1.9%

Shares of NASDAQ GLUE traded up $0.29 during mid-day trading on Friday, hitting $16.00. The company had a trading volume of 458,467 shares, compared to its average volume of 1,403,889. The firm has a 50-day simple moving average of $20.60 and a two-hundred day simple moving average of $19.37. The company has a market capitalization of $1.35 billion, a PE ratio of -10.82 and a beta of 1.59. Monte Rosa Therapeutics has a one year low of $4.12 and a one year high of $25.77.

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

Insider Activity at Monte Rosa Therapeutics

In other news, Director Anthony M. Manning sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $23.11, for a total transaction of $231,100.00. Following the completion of the sale, the director owned 10,000 shares in the company, valued at approximately $231,100. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Filip Janku sold 5,407 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $24.50, for a total transaction of $132,471.50. Following the completion of the transaction, the insider owned 60,612 shares in the company, valued at approximately $1,484,994. This trade represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 81,778 shares of company stock worth $1,768,581. 6.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Monte Rosa Therapeutics by 8.6% in the 4th 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 during the period. Swiss National Bank bought a new stake in shares of Monte Rosa Therapeutics during the 1st quarter worth approximately $1,005,000. Renaissance Technologies LLC bought a new stake in shares of Monte Rosa Therapeutics during the 1st quarter worth approximately $6,236,000. Janus Henderson Group PLC acquired a new stake in shares of Monte Rosa Therapeutics during the 1st quarter worth approximately $11,294,000. Finally, Arrowstreet Capital Limited Partnership boosted 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 worth $10,655,000 after acquiring an additional 340,088 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

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.