Monte Rosa Therapeutics (NASDAQ:GLUE) Stock Price Target Cut by Wells Fargo & Company

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price target lowered by research analysts at Wells Fargo & Company from $27.00 to $25.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 136.52% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Guggenheim reiterated a “buy” rating and issued a $28.00 price objective on shares of Monte Rosa Therapeutics in a research note on Tuesday, August 25th. Benchmark restated a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday, October 5th. Jefferies Financial Group restated a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. JPMorgan Chase & Co. lowered their price objective on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Finally, Weiss Ratings cut Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.44.

Monte Rosa Therapeutics Price Performance

NASDAQ GLUE opened at $10.57 on Friday. The company has a fifty day moving average price of $11.70 and a 200-day moving average price of $17.09. The firm has a market cap of $901.73 million, a price-to-earnings ratio of -7.55 and a beta of 1.40. Monte Rosa Therapeutics has a 1 year low of $9.68 and a 1 year high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.24. Monte Rosa Therapeutics had a negative net margin of 186.24% and a negative return on equity of 31.63%. The company had revenue of $54.37 million for the quarter, compared to analyst estimates of $33.87 million. On average, research analysts anticipate that Monte Rosa Therapeutics will post -1.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several institutional investors have recently modified their holdings of GLUE. Bank of America Corp DE bought a new position in shares of Monte Rosa Therapeutics during the second quarter valued at approximately $6,160,000. Alphabet Inc. purchased a new position in Monte Rosa Therapeutics during the second quarter valued at approximately $9,014,000. The Manufacturers Life Insurance Company raised its stake in Monte Rosa Therapeutics by 55.8% in the first quarter. The Manufacturers Life Insurance Company now owns 209,801 shares of the company’s stock worth $3,451,000 after buying an additional 75,127 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Monte Rosa Therapeutics in the second quarter worth approximately $5,385,000. Finally, Janus Henderson Group PLC bought a new position in Monte Rosa Therapeutics in the first quarter worth approximately $11,294,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company focused on developing molecular glue degraders, a class of medicines designed to eliminate disease-causing proteins by directing them to the cell’s natural protein-degradation machinery. The company’s approach is intended to address targets that may be difficult to inhibit with conventional small-molecule drugs.

Monte Rosa uses its QuEEN platform to discover and optimize molecular glue degraders for diseases involving dysregulated immune responses and other biological pathways.