Credit Suisse Group Lowers Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target to $11.00

Monte Rosa Therapeutics (NASDAQ:GLUE – Get Rating) had its price target decreased by stock analysts at Credit Suisse Group from $12.00 to $11.00 in a report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Credit Suisse Group’s target price would indicate a potential upside of 52.35% from the stock’s previous close.

Separately, Wells Fargo & Company raised Monte Rosa Therapeutics from an “equal weight” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Monday, January 2nd.

Monte Rosa Therapeutics Stock Up 3.0 %

Shares of NASDAQ GLUE opened at $7.22 on Friday. The stock has a fifty day moving average price of $6.88 and a two-hundred day moving average price of $7.75. Monte Rosa Therapeutics has a 1 year low of $5.74 and a 1 year high of $15.52.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. boosted its stake in shares of Monte Rosa Therapeutics by 152.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,241 shares of the company’s stock worth $31,000 after acquiring an additional 1,354 shares in the last quarter. Swiss National Bank boosted its stake in shares of Monte Rosa Therapeutics by 7.4% during the 1st quarter. Swiss National Bank now owns 27,500 shares of the company’s stock worth $386,000 after acquiring an additional 1,900 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Monte Rosa Therapeutics by 38.7% during the 2nd quarter. Legal & General Group Plc now owns 6,924 shares of the company’s stock worth $67,000 after acquiring an additional 1,931 shares in the last quarter. Metropolitan Life Insurance Co NY bought a new stake in shares of Monte Rosa Therapeutics during the 1st quarter worth $30,000. Finally, Deutsche Bank AG boosted its stake in shares of Monte Rosa Therapeutics by 10.6% during the 4th quarter. Deutsche Bank AG now owns 25,973 shares of the company’s stock worth $198,000 after acquiring an additional 2,481 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

About Monte Rosa Therapeutics

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Monte Rosa Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. It develops an oral molecular glue degrader for GSPT1, a translational termination factor and degron-containing protein for the treatment of Myc-driven cancers.