Monte Rosa Therapeutics (NASDAQ:GLUE) Coverage Initiated by Analysts at HC Wainwright

Equities research analysts at HC Wainwright initiated coverage on shares of Monte Rosa Therapeutics (NASDAQ:GLUE) in a research note issued to investors on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $25.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 145.94% from the stock’s current price.

GLUE has been the subject of several other research reports. Guggenheim reaffirmed a “buy” rating and set a $28.00 target price on shares of Monte Rosa Therapeutics in a research note on Tuesday, August 25th. JPMorgan Chase & Co. decreased their target price on Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday, July 27th. TD Cowen raised Monte Rosa Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $27.00 target price on shares of Monte Rosa Therapeutics in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Monte Rosa Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.63.

Monte Rosa Therapeutics Stock Performance

Shares of NASDAQ:GLUE traded up $0.30 on Thursday, hitting $10.17. The company’s stock had a trading volume of 1,209,905 shares, compared to its average volume of 1,351,544. The stock’s 50-day moving average is $14.14 and its two-hundred day moving average is $17.64. The company has a market capitalization of $867.21 million, a price-to-earnings ratio of -5.78 and a beta of 1.37. Monte Rosa Therapeutics has a 12 month low of $7.43 and a 12 month high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. The firm had revenue of $8.97 million for the quarter, compared to the consensus estimate of $12.91 million. Equities analysts expect that Monte Rosa Therapeutics will post -1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several hedge funds have recently bought and sold shares of the business. Opaleye Management Inc. purchased a new stake in Monte Rosa Therapeutics in the 2nd quarter worth about $18,029,000. Squarepoint Ops LLC lifted its stake in Monte Rosa Therapeutics by 123.6% in the 2nd quarter. Squarepoint Ops LLC now owns 82,953 shares of the company’s stock worth $2,007,000 after acquiring an additional 45,846 shares in the last quarter. Arizona State Retirement System purchased a new stake in Monte Rosa Therapeutics in the 2nd quarter worth about $321,000. HighTower Advisors LLC purchased a new stake in Monte Rosa Therapeutics in the 2nd quarter worth about $371,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Monte Rosa Therapeutics in the 2nd quarter worth about $273,000. 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 medicines that selectively eliminate disease-causing proteins. The company uses its proprietary molecular glue degrader platform to identify small molecules that recruit targeted proteins to the cell’s natural protein-disposal machinery, potentially addressing proteins that have been difficult to treat with conventional drugs.

Monte Rosa’s pipeline is centered primarily on autoimmune and inflammatory diseases, as well as other serious conditions.