Monte Rosa Therapeutics’ (GLUE) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Monte Rosa Therapeutics (NASDAQ:GLUE) in a report issued on Thursday, Marketbeat reports. They currently have a $17.00 price target on the stock, up from their previous price target of $15.00.

Several other research analysts have also recently weighed in on GLUE. Lifesci Capital assumed coverage on shares of Monte Rosa Therapeutics in a report on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 price target for the company. Wells Fargo & Company cut Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $14.00 to $11.00 in a report on Thursday, December 19th.

Monte Rosa Therapeutics Trading Down 17.8 %

GLUE stock opened at $5.80 on Thursday. Monte Rosa Therapeutics has a 1-year low of $3.21 and a 1-year high of $12.40. The firm has a market cap of $356.33 million, a PE ratio of -3.17 and a beta of 1.50. The business’s 50-day moving average price is $6.18 and its two-hundred day moving average price is $6.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings data on Thursday, March 20th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.60. The business had revenue of $14.00 million for the quarter, compared to the consensus estimate of $43.73 million. On average, analysts forecast that Monte Rosa Therapeutics will post -1.49 earnings per share for the current year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its holdings in shares of Monte Rosa Therapeutics by 192.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company’s stock valued at $38,000 after acquiring an additional 3,584 shares in the last quarter. GAMMA Investing LLC boosted its position in Monte Rosa Therapeutics by 10,665.5% during the fourth quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock valued at $41,000 after purchasing an additional 5,866 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Monte Rosa Therapeutics in the fourth quarter valued at approximately $43,000. Virtus ETF Advisers LLC acquired a new position in shares of Monte Rosa Therapeutics during the 4th quarter worth approximately $63,000. Finally, Intech Investment Management LLC bought a new stake in shares of Monte Rosa Therapeutics during the 3rd quarter worth approximately $77,000. 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.