Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target Cut to $25.00 by Analysts at Wells Fargo & Company

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price target cut by Wells Fargo & Company from $27.00 to $25.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently commented on GLUE. TD Cowen raised Monte Rosa Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Jefferies Financial Group restated a “buy” rating on shares of Monte Rosa Therapeutics in a report on Monday, July 27th. Guggenheim reissued a “buy” rating and set a $28.00 price objective on shares of Monte Rosa Therapeutics in a research note on Tuesday, August 25th. Raymond James Financial set a $25.00 price objective on shares of Monte Rosa Therapeutics in a report on Monday, October 5th. Finally, HC Wainwright assumed coverage on shares of Monte Rosa Therapeutics in a report on Thursday, October 1st. They issued a “buy” rating and a $25.00 target price on the stock. One equities research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.44.

Monte Rosa Therapeutics Stock Up 3.1%

GLUE stock traded up $0.32 during midday trading on Friday, reaching $10.57. The stock had a trading volume of 1,005,563 shares, compared to its average volume of 1,513,058. 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 twelve month low of $9.68 and a twelve month high of $25.77. The business has a fifty day simple moving average of $11.70 and a two-hundred day simple moving average of $17.09.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.24. The company had revenue of $54.37 million for the quarter, compared to analyst estimates of $33.87 million. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. On average, equities analysts predict that Monte Rosa Therapeutics will post -1.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its holdings in shares of Monte Rosa Therapeutics by 842.3% in the 3rd quarter. Sterling Capital Management LLC now owns 2,450 shares of the company’s stock valued at $29,000 after buying an additional 2,190 shares during the last quarter. Allworth Financial LP bought a new stake in Monte Rosa Therapeutics during the second quarter worth $30,000. State of Alaska Department of Revenue bought a new stake in Monte Rosa Therapeutics during the third quarter worth $48,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Monte Rosa Therapeutics during the third quarter worth $52,000. Finally, E Fund Management Co. Ltd. acquired a new stake in Monte Rosa Therapeutics in the second quarter valued at $200,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Monte Rosa Therapeutics Company Profile

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.