Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) had its price objective dropped by Wells Fargo & Company from $18.00 to $17.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 321.84% from the stock’s previous close.
GLUE has been the topic of a number of other research reports. Piper Sandler restated an “overweight” rating and issued a $16.00 price target on shares of Monte Rosa Therapeutics in a research report on Friday, June 28th. Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of Monte Rosa Therapeutics in a report on Wednesday, May 22nd.
Check Out Our Latest Report on GLUE
Monte Rosa Therapeutics Stock Performance
Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.07. The company had revenue of $4.70 million for the quarter, compared to the consensus estimate of $3.20 million. Equities analysts expect that Monte Rosa Therapeutics will post -1.92 earnings per share for the current year.
Institutional Trading of Monte Rosa Therapeutics
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in Monte Rosa Therapeutics during the 2nd quarter valued at $38,000. EntryPoint Capital LLC purchased a new position in shares of Monte Rosa Therapeutics during the first quarter valued at approximately $112,000. American Century Companies Inc. raised its position in Monte Rosa Therapeutics by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock valued at $185,000 after buying an additional 15,562 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Monte Rosa Therapeutics by 77.4% during the 2nd quarter. Acadian Asset Management LLC now owns 98,557 shares of the company’s stock valued at $366,000 after acquiring an additional 43,009 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Monte Rosa Therapeutics by 16.9% during the second quarter. Bank of New York Mellon Corp now owns 109,864 shares of the company’s stock valued at $411,000 after purchasing an additional 15,845 shares in the last quarter. 79.96% of the stock is owned by institutional investors.
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.
Read More
- Five stocks we like better than Monte Rosa Therapeutics
- How Can Retail Investors Trade the Toronto Stock Exchange (TSX)?
- How to Invest in Silver: A Beginner’s Guide
- 10 Best Airline Stocks to Buy
- Monday.com’s Stock Results Will Brighten Any Investor’s Week
- What is the Euro STOXX 50 Index?
- 3 Must-Watch Stocks After a Bullish Goldman Sachs Recommendation
Receive News & Ratings for Monte Rosa Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monte Rosa Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.