Monte Rosa Therapeutics (NASDAQ:GLUE) Given “Outperform” Rating at Wedbush

by · The Markets Daily

Wedbush reaffirmed their outperform rating on shares of Monte Rosa Therapeutics (NASDAQ:GLUE – Free Report) in a report issued on Thursday,RTT News reports. The brokerage currently has a $15.00 target price on the stock.

Separately, Wells Fargo & Company decreased their price objective on shares of Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, August 12th.

Read Our Latest Research Report on GLUE

Monte Rosa Therapeutics Stock Down 3.4 %

Shares of GLUE stock traded down $0.32 on Thursday, reaching $9.21. 374,341 shares of the stock were exchanged, compared to its average volume of 746,129. The stock has a market cap of $565.25 million, a P/E ratio of -4.25 and a beta of 1.30. The firm has a 50 day moving average of $6.19 and a two-hundred day moving average of $5.14. Monte Rosa Therapeutics has a 1-year low of $2.91 and a 1-year high of $12.40.

Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.07. The firm had revenue of $4.70 million for the quarter, compared to analyst estimates of $3.20 million. On average, equities research analysts predict that Monte Rosa Therapeutics will post -1.83 EPS for the current fiscal year.

Insider Buying and Selling at Monte Rosa Therapeutics

In other news, major shareholder Versant Venture Capital Vi, L. sold 1,132,566 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $6.53, for a total transaction of $7,395,655.98. Following the transaction, the insider now owns 5,099,336 shares in the company, valued at approximately $33,298,664.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 1,773,722 shares of company stock valued at $11,573,438. 6.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several hedge funds have recently bought and sold shares of GLUE. Meeder Asset Management Inc. bought a new position in shares of Monte Rosa Therapeutics during the second quarter valued at $38,000. SG Americas Securities LLC bought a new stake in Monte Rosa Therapeutics in the third quarter valued at $55,000. EntryPoint Capital LLC acquired a new stake in Monte Rosa Therapeutics in the first quarter valued at approximately $112,000. American Century Companies Inc. raised its holdings in shares of Monte Rosa Therapeutics by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock worth $185,000 after acquiring an additional 15,562 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Monte Rosa Therapeutics by 77.4% in the second quarter. Acadian Asset Management LLC now owns 98,557 shares of the company’s stock worth $366,000 after purchasing an additional 43,009 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

About Monte Rosa Therapeutics

(Get Free Report)

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.

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