Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target Lowered to $10.00 at Wells Fargo & Company

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price objective trimmed by Wells Fargo & Company from $11.00 to $10.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

GLUE has been the subject of a number of other research reports. Wedbush reissued an “outperform” rating and set a $17.00 price objective (up previously from $15.00) on shares of Monte Rosa Therapeutics in a research note on Thursday. Lifesci Capital assumed coverage on Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price objective for the company.

Monte Rosa Therapeutics Price Performance

Shares of GLUE opened at $5.80 on Friday. The firm has a market cap of $356.33 million, a P/E ratio of -3.17 and a beta of 1.50. The stock has a 50 day simple moving average of $6.18 and a two-hundred day simple moving average of $6.77. Monte Rosa Therapeutics has a 1 year low of $3.21 and a 1 year high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, March 20th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.60. The firm had revenue of $14.00 million during the quarter, compared to analysts’ expectations of $43.73 million. On average, equities analysts anticipate that Monte Rosa Therapeutics will post -1.49 earnings per share for the current year.

Institutional Trading of Monte Rosa Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Monte Rosa Therapeutics by 9.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,701 shares of the company’s stock worth $172,000 after acquiring an additional 2,084 shares during the period. Tower Research Capital LLC TRC lifted its stake in Monte Rosa Therapeutics by 192.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company’s stock worth $38,000 after acquiring an additional 3,584 shares during the period. Bank of New York Mellon Corp lifted its stake in Monte Rosa Therapeutics by 2.2% in the fourth quarter. Bank of New York Mellon Corp now owns 170,312 shares of the company’s stock worth $1,182,000 after acquiring an additional 3,619 shares during the period. Wellington Management Group LLP lifted its stake in Monte Rosa Therapeutics by 2.2% in the fourth quarter. Wellington Management Group LLP now owns 221,741 shares of the company’s stock worth $1,539,000 after acquiring an additional 4,740 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Monte Rosa Therapeutics by 38.2% in the third quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company’s stock worth $98,000 after purchasing an additional 5,125 shares in the last quarter. 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.