Monte Rosa Therapeutics’ (GLUE) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Monte Rosa Therapeutics (NASDAQ:GLUE) in a report issued on Friday, Benzinga reports. The firm currently has a $16.00 price target on the stock.

Separately, Wedbush reiterated an outperform rating and issued a $11.00 target price on shares of Monte Rosa Therapeutics in a research note on Wednesday, May 22nd.

Monte Rosa Therapeutics Price Performance

Shares of NASDAQ:GLUE opened at $3.74 on Friday. The firm has a market capitalization of $188.91 million, a PE ratio of -1.48 and a beta of 1.41. The business has a 50-day moving average of $4.54 and a two-hundred day moving average of $5.49. Monte Rosa Therapeutics has a 12 month low of $2.44 and a 12 month high of $8.84.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its earnings results on Thursday, May 9th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.03. The company had revenue of $1.06 million during the quarter, compared to analyst estimates of $4.29 million. As a group, research analysts anticipate that Monte Rosa Therapeutics will post -1.92 earnings per share for the current year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC grew its stake in Monte Rosa Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 23,327 shares of the company’s stock valued at $132,000 after purchasing an additional 5,915 shares in the last quarter. Corton Capital Inc. acquired a new position in shares of Monte Rosa Therapeutics in the 3rd quarter worth approximately $69,000. EntryPoint Capital LLC acquired a new position in shares of Monte Rosa Therapeutics in the 1st quarter worth approximately $112,000. Acadian Asset Management LLC grew its position in shares of Monte Rosa Therapeutics by 92.5% in the 1st quarter. Acadian Asset Management LLC now owns 55,548 shares of the company’s stock worth $390,000 after acquiring an additional 26,687 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Monte Rosa Therapeutics by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock worth $11,533,000 after acquiring an additional 47,412 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

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.