Monte Rosa Therapeutics (NASDAQ:GLUE) Earns “Outperform” Rating from Wedbush

Monte Rosa Therapeutics (NASDAQ:GLUE)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a research report issued on Thursday,RTT News reports. They currently have a $15.00 price objective on the stock. Wedbush’s target price indicates a potential upside of 61.99% from the stock’s previous close.

Separately, Wells Fargo & Company decreased their target price on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, August 12th.

Monte Rosa Therapeutics Stock Down 2.8 %

Shares of GLUE opened at $9.26 on Thursday. The company has a 50-day moving average price of $6.19 and a two-hundred day moving average price of $5.14. Monte Rosa Therapeutics has a 12 month low of $2.91 and a 12 month high of $12.40. The stock has a market cap of $568.31 million, a price-to-earnings ratio of -4.25 and a beta of 1.30.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.07. The business had revenue of $4.70 million for the quarter, compared to analyst estimates of $3.20 million. Equities research analysts expect that Monte Rosa Therapeutics will post -1.83 EPS for the current fiscal year.

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 1,132,566 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $6.53, for a total value of $7,395,655.98. Following the transaction, the insider now directly owns 5,099,336 shares in the company, valued at $33,298,664.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 1,773,722 shares of company stock worth $11,573,438 over the last 90 days. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several institutional investors have recently made changes to their positions in GLUE. Price T Rowe Associates Inc. MD lifted its stake in Monte Rosa Therapeutics by 3.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,096,787 shares of the company’s stock valued at $35,933,000 after purchasing an additional 155,880 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Monte Rosa Therapeutics by 108.6% in the 2nd quarter. Renaissance Technologies LLC now owns 254,714 shares of the company’s stock worth $953,000 after purchasing an additional 132,614 shares during the period. American Century Companies Inc. boosted its position in Monte Rosa Therapeutics by 46.0% during the second quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock valued at $185,000 after acquiring an additional 15,562 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Monte Rosa Therapeutics by 111.6% in the second quarter. Dimensional Fund Advisors LP now owns 153,758 shares of the company’s stock worth $575,000 after purchasing an additional 81,083 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Monte Rosa Therapeutics by 92.5% in the first quarter. Acadian Asset Management LLC now owns 55,548 shares of the company’s stock worth $390,000 after purchasing an additional 26,687 shares during the period. 79.96% of the stock is currently owned by institutional investors.

Monte Rosa Therapeutics Company Profile

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.