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

Wedbush restated their outperform rating on shares of Monte Rosa Therapeutics (NASDAQ:GLUE) in a report issued on Thursday,RTT News reports. Wedbush currently has a $17.00 price objective on the stock, up from their prior price objective of $15.00.

A number of other equities analysts have also commented on GLUE. Lifesci Capital initiated coverage on Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price objective on the stock. Wells Fargo & Company downgraded Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $14.00 to $11.00 in a research note on Thursday, December 19th.

Monte Rosa Therapeutics Stock Up 5.4 %

Shares of NASDAQ:GLUE opened at $7.06 on Thursday. Monte Rosa Therapeutics has a 12-month low of $3.21 and a 12-month high of $12.40. The company’s 50 day moving average price is $6.18 and its two-hundred day moving average price is $6.77. The firm has a market cap of $433.75 million, a PE ratio of -3.86 and a beta of 1.50.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC bought a new position in shares of Monte Rosa Therapeutics in the 4th quarter valued at $220,000. Two Sigma Advisers LP acquired a new position in Monte Rosa Therapeutics during the fourth quarter worth about $180,000. Two Sigma Investments LP lifted its holdings in shares of Monte Rosa Therapeutics by 1,965.1% in the fourth quarter. Two Sigma Investments LP now owns 278,785 shares of the company’s stock worth $1,935,000 after acquiring an additional 265,285 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of Monte Rosa Therapeutics in the 4th quarter valued at approximately $192,000. Finally, ProShare Advisors LLC bought a new stake in shares of Monte Rosa Therapeutics during the 4th quarter valued at approximately $101,000. 79.96% of the stock is currently owned by institutional investors.

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.