Monte Rosa Therapeutics (NASDAQ:GLUE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Monte Rosa Therapeutics (NASDAQ:GLUE) from a sell rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Wells Fargo & Company cut their price target on Monte Rosa Therapeutics from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday. Zacks Research raised Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. UBS Group began coverage on Monte Rosa Therapeutics in a report on Sunday, October 11th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Guggenheim restated a “buy” rating and issued a $28.00 price objective on shares of Monte Rosa Therapeutics in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.44.

Monte Rosa Therapeutics Trading Up 0.1%

Shares of NASDAQ:GLUE opened at $10.58 on Friday. The stock has a 50 day moving average of $11.65 and a 200 day moving average of $17.02. The company has a market cap of $902.58 million, a PE ratio of -7.56 and a beta of 1.40. Monte Rosa Therapeutics has a 12-month low of $9.68 and a 12-month high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.24. The business had revenue of $54.37 million for the quarter, compared to the consensus estimate of $33.87 million. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. Equities research analysts predict that Monte Rosa Therapeutics will post -1.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several hedge funds have recently modified their holdings of GLUE. Sterling Capital Management LLC boosted its position in shares of Monte Rosa Therapeutics by 842.3% during the third quarter. Sterling Capital Management LLC now owns 2,450 shares of the company’s stock worth $29,000 after acquiring an additional 2,190 shares during the last quarter. Allworth Financial LP purchased a new position in Monte Rosa Therapeutics during the second quarter valued at $30,000. State of Alaska Department of Revenue purchased a new position in Monte Rosa Therapeutics during the third quarter valued at $48,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Monte Rosa Therapeutics in the 3rd quarter valued at $52,000. Finally, E Fund Management Co. Ltd. bought a new stake in Monte Rosa Therapeutics in the 2nd quarter valued at $200,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Company Profile

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company focused on developing molecular glue degraders, a class of medicines designed to eliminate disease-causing proteins by directing them to the cell’s natural protein-degradation machinery. The company’s approach is intended to address targets that may be difficult to inhibit with conventional small-molecule drugs.

Monte Rosa uses its QuEEN platform to discover and optimize molecular glue degraders for diseases involving dysregulated immune responses and other biological pathways.