Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Receives $16.33 Average Price Target from Brokerages

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) have been assigned an average rating of “Hold” from the five research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $17.75.

A number of equities analysts have commented on GLUE shares. Jefferies Financial Group reissued a “buy” rating and issued a $22.00 price target on shares of Monte Rosa Therapeutics in a research note on Wednesday. Weiss Ratings reiterated a “sell (d)” rating on shares of Monte Rosa Therapeutics in a research report on Monday. Finally, Wells Fargo & Company increased their target price on Monte Rosa Therapeutics from $10.00 to $13.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th.

Monte Rosa Therapeutics Stock Down 1.8%

NASDAQ:GLUE opened at $15.54 on Wednesday. The business’s 50-day moving average price is $13.98 and its two-hundred day moving average price is $8.38. Monte Rosa Therapeutics has a twelve month low of $3.50 and a twelve month high of $19.17. The stock has a market cap of $1.01 billion, a P/E ratio of 48.56 and a beta of 1.60.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.06. The company had revenue of $12.77 million during the quarter, compared to analyst estimates of $7.37 million. Monte Rosa Therapeutics had a return on equity of 8.28% and a net margin of 11.54%. On average, equities research analysts expect that Monte Rosa Therapeutics will post -1.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in Monte Rosa Therapeutics in the third quarter worth approximately $32,000. Brighton Jones LLC bought a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter worth approximately $48,000. Lazard Asset Management LLC boosted its stake in shares of Monte Rosa Therapeutics by 42.9% in the 2nd quarter. Lazard Asset Management LLC now owns 10,857 shares of the company’s stock valued at $48,000 after purchasing an additional 3,262 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter valued at $54,000. Finally, Pallas Capital Advisors LLC bought a new position in shares of Monte Rosa Therapeutics during the 2nd quarter valued at $59,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics is a biotechnology company focused on accelerating drug discovery through the integration of single-cell genomics and artificial intelligence. Founded in 2020 and headquartered in Cambridge, Massachusetts, the company has built a proprietary platform designed to identify novel therapeutic targets and optimize lead candidates for areas of high unmet medical need. By combining cutting-edge computational methods with comprehensive cellular profiling, Monte Rosa aims to streamline the preclinical development process and uncover insights into disease biology that might otherwise remain hidden.

The company’s main business activities center on using its AI-driven discovery engine to pursue programs in immuno-oncology and neuroscience.