Monte Rosa Therapeutics’ (GLUE) “Outperform” Rating Reaffirmed at Wedbush

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

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

Monte Rosa Therapeutics Stock Performance

NASDAQ:GLUE opened at $7.06 on Thursday. Monte Rosa Therapeutics has a 52-week low of $3.21 and a 52-week high of $12.40. The company has a market cap of $433.75 million, a P/E ratio of -3.86 and a beta of 1.50. The stock’s 50-day simple moving average is $6.18 and its 200 day simple moving average is $6.77.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its position in shares of 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 valued at $38,000 after purchasing an additional 3,584 shares during the period. GAMMA Investing LLC raised its holdings in Monte Rosa Therapeutics by 10,665.5% in the 4th quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock valued at $41,000 after acquiring an additional 5,866 shares during the period. BNP Paribas Financial Markets acquired a new stake in Monte Rosa Therapeutics during the fourth quarter worth approximately $43,000. Virtus ETF Advisers LLC bought a new stake in shares of Monte Rosa Therapeutics during the fourth quarter worth approximately $63,000. Finally, Focus Partners Wealth acquired a new position in shares of Monte Rosa Therapeutics in the fourth quarter valued at approximately $77,000. Institutional investors and hedge funds 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.