Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target Lowered to $10.00 at Wells Fargo & Company

Monte Rosa Therapeutics (NASDAQ:GLUE) had its target price reduced by equities research analysts at Wells Fargo & Company from $11.00 to $10.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 72.41% from the stock’s current price.

A number of other equities analysts have also commented on the company. Lifesci Capital started coverage on Monte Rosa Therapeutics in a report on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $17.00 price target (up from $15.00) on shares of Monte Rosa Therapeutics in a report on Thursday.

Monte Rosa Therapeutics Trading Down 17.8 %

Shares of NASDAQ GLUE opened at $5.80 on Friday. The stock has a fifty day simple moving average of $6.18 and a two-hundred day simple moving average of $6.77. 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 price-to-earnings ratio of -3.17 and a beta of 1.50.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.60. The company had revenue of $14.00 million during the quarter, compared to the consensus estimate of $43.73 million. Analysts forecast that Monte Rosa Therapeutics will post -1.49 EPS for the current year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its position in shares of Monte Rosa Therapeutics by 192.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company’s stock worth $38,000 after buying an additional 3,584 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Monte Rosa Therapeutics by 10,665.5% in the fourth quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock worth $41,000 after buying an additional 5,866 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Monte Rosa Therapeutics in the fourth quarter worth $43,000. Virtus ETF Advisers LLC purchased a new stake in shares of Monte Rosa Therapeutics in the fourth quarter worth $63,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Monte Rosa Therapeutics in the third quarter worth $77,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

About Monte Rosa Therapeutics

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.