What is Wedbush’s Forecast for GLUE FY2029 Earnings?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) – Analysts at Wedbush issued their FY2029 earnings per share (EPS) estimates for Monte Rosa Therapeutics in a research note issued to investors on Thursday, March 20th. Wedbush analyst R. Driscoll forecasts that the company will post earnings per share of ($1.33) for the year. Wedbush currently has a “Outperform” rating and a $17.00 target price on the stock. The consensus estimate for Monte Rosa Therapeutics’ current full-year earnings is ($1.49) per share.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings data on Thursday, March 20th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.60. The company had revenue of $14.00 million during the quarter, compared to analyst estimates of $43.73 million.

Several other equities research analysts have also recently commented on the company. Lifesci Capital started coverage on Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 target price for the company. Wells Fargo & Company decreased their price target on Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st.

Monte Rosa Therapeutics Price Performance

Shares of Monte Rosa Therapeutics stock opened at $5.67 on Monday. The firm has a 50 day simple moving average of $6.19 and a 200 day simple moving average of $6.78. Monte Rosa Therapeutics has a fifty-two week low of $3.21 and a fifty-two week high of $12.40. The firm has a market cap of $348.35 million, a P/E ratio of -3.10 and a beta of 1.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC bought a new stake in Monte Rosa Therapeutics in the third quarter valued at approximately $77,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Monte Rosa Therapeutics by 11.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 346,498 shares of the company’s stock valued at $1,836,000 after buying an additional 34,698 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Monte Rosa Therapeutics by 14.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,877 shares of the company’s stock valued at $625,000 after buying an additional 15,168 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Monte Rosa Therapeutics during the 3rd quarter worth $132,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Monte Rosa Therapeutics by 54.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,100 shares of the company’s stock worth $128,000 after acquiring an additional 8,500 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Insider Buying and Selling at Monte Rosa Therapeutics

In related news, Director Chandra P. Leo bought 10,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $5.84 per share, for a total transaction of $58,400.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $58,400. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.50% 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.