Wells Fargo & Company Forecasts Strong Price Appreciation for Monte Rosa Therapeutics (NASDAQ:GLUE) Stock

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price objective lifted by research analysts at Wells Fargo & Company from $10.00 to $13.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 6.51% from the stock’s previous close.

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

Monte Rosa Therapeutics Price Performance

Shares of NASDAQ:GLUE traded down $0.81 during mid-day trading on Friday, hitting $12.21. The company had a trading volume of 396,337 shares, compared to its average volume of 836,489. Monte Rosa Therapeutics has a one year low of $3.50 and a one year high of $13.59. The firm has a fifty day moving average price of $8.28 and a 200 day moving average price of $5.96. The company has a market capitalization of $753.78 million, a PE ratio of 33.90 and a beta of 1.62.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.06. Monte Rosa Therapeutics had a return on equity of 9.95% and a net margin of 13.58%.The firm had revenue of $12.77 million during the quarter, compared to the consensus estimate of $7.37 million. Research analysts expect that Monte Rosa Therapeutics will post -1.49 earnings per share for the current fiscal year.

Institutional Trading of Monte Rosa Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in shares of Monte Rosa Therapeutics in the second quarter worth approximately $48,000. Lazard Asset Management LLC boosted its holdings in shares of Monte Rosa Therapeutics by 42.9% during the second quarter. Lazard Asset Management LLC now owns 10,857 shares of the company’s stock worth $48,000 after purchasing an additional 3,262 shares during the period. Prudential Financial Inc. bought a new stake in shares of Monte Rosa Therapeutics in the second quarter worth about $54,000. Pallas Capital Advisors LLC purchased a new position in Monte Rosa Therapeutics during the 2nd quarter valued at about $59,000. Finally, Sei Investments Co. purchased a new position in Monte Rosa Therapeutics during the 2nd quarter valued at about $74,000. 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.