Monte Rosa Therapeutics (NASDAQ:GLUE) Coverage Initiated at Lifesci Capital

Lifesci Capital began coverage on shares of Monte Rosa Therapeutics (NASDAQ:GLUE) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm set an “outperform” rating and a $19.00 price target on the stock. Lifesci Capital’s price target points to a potential upside of 205.96% from the stock’s previous close.

Separately, Wells Fargo & Company downgraded Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $14.00 to $11.00 in a research report on Thursday, December 19th.

Monte Rosa Therapeutics Trading Down 6.5 %

Shares of GLUE opened at $6.21 on Wednesday. The firm’s 50-day moving average is $6.16 and its two-hundred day moving average is $6.77. Monte Rosa Therapeutics has a twelve month low of $3.21 and a twelve month high of $12.40. The firm has a market capitalization of $381.52 million, a P/E ratio of -3.39 and a beta of 1.50.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Monte Rosa Therapeutics by 23.3% in the third quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock valued at $5,538,000 after buying an additional 197,247 shares during the period. Barclays PLC raised its stake in shares of Monte Rosa Therapeutics by 395.1% in the 3rd quarter. Barclays PLC now owns 54,508 shares of the company’s stock valued at $289,000 after acquiring an additional 43,499 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Monte Rosa Therapeutics by 54.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,100 shares of the company’s stock valued at $128,000 after acquiring an additional 8,500 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Monte Rosa Therapeutics by 38.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company’s stock valued at $98,000 after acquiring an additional 5,125 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Monte Rosa Therapeutics by 14.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,877 shares of the company’s stock worth $625,000 after purchasing an additional 15,168 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

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.