Monte Rosa Therapeutics (NASDAQ:GLUE) Upgraded at UBS Group

UBS Group upgraded shares of Monte Rosa Therapeutics (NASDAQ:GLUE) to a hold rating in a report issued on Sunday morning,Zacks reports.

Several other brokerages also recently issued reports on GLUE. Jefferies Financial Group reiterated a “buy” rating on shares of Monte Rosa Therapeutics in a report on Monday, July 27th. Guggenheim reissued a “buy” rating and issued a $28.00 price target on shares of Monte Rosa Therapeutics in a research report on Tuesday, August 25th. Weiss Ratings cut Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Wedbush restated an “outperform” rating and set a $27.00 price objective on shares of Monte Rosa Therapeutics in a research note on Wednesday, September 9th. Finally, Wells Fargo & Company cut their price objective on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Monte Rosa Therapeutics Stock Performance

Shares of GLUE opened at $9.89 on Friday. The stock has a 50 day moving average price of $13.32 and a two-hundred day moving average price of $17.45. The firm has a market capitalization of $843.72 million, a P/E ratio of -5.62 and a beta of 1.37. Monte Rosa Therapeutics has a 52 week low of $8.94 and a 52 week high of $25.77.

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

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several hedge funds have recently modified their holdings of the company. Opaleye Management Inc. bought a new position in shares of Monte Rosa Therapeutics in the second quarter valued at approximately $18,029,000. Squarepoint Ops LLC increased its position in shares of Monte Rosa Therapeutics by 123.6% during the second quarter. Squarepoint Ops LLC now owns 82,953 shares of the company’s stock valued at $2,007,000 after acquiring an additional 45,846 shares during the last quarter. Arizona State Retirement System purchased a new stake in shares of Monte Rosa Therapeutics during the second quarter valued at approximately $321,000. HighTower Advisors LLC bought a new stake in Monte Rosa Therapeutics during the second quarter worth $371,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Monte Rosa Therapeutics during the second quarter worth $273,000. Institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Company Profile

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.