Research Analysts Offer Predictions for GLUE FY2024 Earnings

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) – Equities research analysts at Wedbush boosted their FY2024 earnings estimates for Monte Rosa Therapeutics in a research note issued to investors on Monday, October 28th. Wedbush analyst R. Driscoll now expects that the company will post earnings of ($1.63) per share for the year, up from their prior forecast of ($1.86). Wedbush currently has a “Outperform” rating and a $11.00 target price on the stock. The consensus estimate for Monte Rosa Therapeutics’ current full-year earnings is ($1.89) per share. Wedbush also issued estimates for Monte Rosa Therapeutics’ Q4 2024 earnings at ($0.20) EPS, Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at ($0.22) EPS, Q3 2025 earnings at ($0.24) EPS, Q4 2025 earnings at ($0.25) EPS, FY2025 earnings at ($0.91) EPS, FY2026 earnings at ($1.02) EPS, FY2027 earnings at ($0.35) EPS and FY2028 earnings at $1.15 EPS.

Separately, Wells Fargo & Company lowered their price target on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, August 12th.

Monte Rosa Therapeutics Trading Down 7.8 %

Shares of GLUE opened at $8.50 on Wednesday. The firm’s 50-day moving average is $5.92 and its two-hundred day moving average is $5.03. Monte Rosa Therapeutics has a twelve month low of $2.91 and a twelve month high of $12.40. The firm has a market capitalization of $521.67 million, a P/E ratio of -3.79 and a beta of 1.43.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, August 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.07. The business had revenue of $4.70 million for the quarter, compared to analysts’ expectations of $3.20 million.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 1,132,566 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $6.53, for a total value of $7,395,655.98. Following the sale, the insider now owns 5,099,336 shares of the company’s stock, valued at $33,298,664.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,773,722 shares of company stock worth $11,573,438 in the last three months. Corporate insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GLUE. Price T Rowe Associates Inc. MD grew its holdings in Monte Rosa Therapeutics by 3.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,096,787 shares of the company’s stock valued at $35,933,000 after buying an additional 155,880 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Monte Rosa Therapeutics by 108.6% in the second quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock valued at $953,000 after acquiring an additional 132,614 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Monte Rosa Therapeutics by 111.6% during the second quarter. Dimensional Fund Advisors LP now owns 153,758 shares of the company’s stock valued at $575,000 after acquiring an additional 81,083 shares during the last quarter. Vanguard Group Inc. increased its position in Monte Rosa Therapeutics by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock worth $11,533,000 after purchasing an additional 47,412 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in Monte Rosa Therapeutics by 77.4% during the 2nd quarter. Acadian Asset Management LLC now owns 98,557 shares of the company’s stock worth $366,000 after purchasing an additional 43,009 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Monte Rosa Therapeutics Company Profile

Monte Rosa Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. The company develops MRT-2359, an orally bioavailable molecular glue degrader targeting the translation termination factor protein GSPT1 for the treatment of MYC-driven tumors; MRT-6160 for the treatment of systemic and central nervous system autoimmune diseases; and MRT-8102 for the treatment of IL-1?/NLRP3 driven inflammatory diseases.