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

Monte Rosa Therapeutics (NASDAQ:GLUE) had its target price cut by analysts at Wells Fargo & Company from $11.00 to $10.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 72.47% from the stock’s current price.

Several other brokerages also recently issued reports on GLUE. Lifesci Capital assumed coverage on shares of Monte Rosa Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price target for the company. Wedbush reiterated an “outperform” rating and issued a $17.00 target price (up from $15.00) on shares of Monte Rosa Therapeutics in a research report on Thursday.

Monte Rosa Therapeutics Trading Down 17.9 %

Monte Rosa Therapeutics stock traded down $1.26 during midday trading on Friday, reaching $5.80. The company’s stock had a trading volume of 1,002,114 shares, compared to its average volume of 928,638. The stock has a market cap of $356.21 million, a PE ratio of -3.13 and a beta of 1.50. Monte Rosa Therapeutics has a 52 week low of $3.21 and a 52 week high of $12.40. The business has a 50-day moving average price of $6.18 and a 200-day moving average price of $6.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings data on Thursday, March 20th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.60. The company had revenue of $14.00 million for the quarter, compared to analyst estimates of $43.73 million. As a group, research analysts predict that Monte Rosa Therapeutics will post -1.49 EPS for the current fiscal year.

Institutional Trading of Monte Rosa Therapeutics

Several institutional investors have recently modified their holdings of GLUE. Tower Research Capital LLC TRC lifted its holdings in Monte Rosa Therapeutics by 192.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company’s stock worth $38,000 after buying an additional 3,584 shares during the period. GAMMA Investing LLC raised its position in shares of Monte Rosa Therapeutics by 10,665.5% during the fourth quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock worth $41,000 after acquiring an additional 5,866 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Monte Rosa Therapeutics during the fourth quarter worth about $43,000. Virtus ETF Advisers LLC acquired a new position in shares of Monte Rosa Therapeutics in the fourth quarter worth approximately $63,000. Finally, Intech Investment Management LLC bought a new stake in Monte Rosa Therapeutics in the third quarter valued at approximately $77,000. Institutional investors own 79.96% of the company’s stock.

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.