Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target Raised to $13.00

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price target raised by Wells Fargo & Company from $10.00 to $13.00 in a report issued on Friday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Monte Rosa Therapeutics in a report on Friday, October 31st. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.33.

Monte Rosa Therapeutics Price Performance

Shares of GLUE stock traded up $0.67 during trading hours on Friday, reaching $12.98. 101,336 shares of the stock were exchanged, compared to its average volume of 834,531. The business’s fifty day moving average is $8.43 and its two-hundred day moving average is $6.03. The firm has a market capitalization of $845.39 million, a P/E ratio of 40.56 and a beta of 1.61. Monte Rosa Therapeutics has a 12-month low of $3.50 and a 12-month high of $13.59.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.06. The company had revenue of $12.77 million for the quarter, compared to the consensus estimate of $7.37 million. Monte Rosa Therapeutics had a net margin of 11.54% and a return on equity of 8.20%. As a group, equities research analysts predict that Monte Rosa Therapeutics will post -1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BVF Inc. IL grew its holdings in shares of Monte Rosa Therapeutics by 104.7% during the first quarter. BVF Inc. IL now owns 5,660,132 shares of the company’s stock worth $26,263,000 after buying an additional 2,895,661 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Monte Rosa Therapeutics by 459.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company’s stock valued at $5,791,000 after purchasing an additional 1,054,406 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Monte Rosa Therapeutics by 12.0% in the second quarter. Geode Capital Management LLC now owns 1,124,160 shares of the company’s stock valued at $5,071,000 after purchasing an additional 120,098 shares during the period. Parkwood LLC raised its stake in shares of Monte Rosa Therapeutics by 119.2% during the first quarter. Parkwood LLC now owns 708,000 shares of the company’s stock worth $3,285,000 after purchasing an additional 385,000 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Monte Rosa Therapeutics by 20.0% during the second quarter. Marshall Wace LLP now owns 446,080 shares of the company’s stock worth $2,012,000 after purchasing an additional 74,342 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

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.