Wall Street Zen Upgrades Monte Rosa Therapeutics (NASDAQ:GLUE) to “Hold”

Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

GLUE has been the topic of several other research reports. Wedbush reaffirmed an “outperform” rating and set a $27.00 price target on shares of Monte Rosa Therapeutics in a report on Wednesday, September 9th. Zacks Research upgraded shares of Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Guggenheim restated a “buy” rating and set a $28.00 target price on shares of Monte Rosa Therapeutics in a research note on Tuesday, August 25th. UBS Group assumed coverage on shares of Monte Rosa Therapeutics in a research note on Sunday, October 11th. They set a “buy” rating and a $19.00 target price on the stock. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Monte Rosa Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $26.44.

Check Out Our Latest Stock Analysis on GLUE

Monte Rosa Therapeutics Price Performance

Shares of Monte Rosa Therapeutics stock opened at $10.57 on Friday. Monte Rosa Therapeutics has a 1-year low of $9.68 and a 1-year high of $25.77. The company’s fifty day simple moving average is $11.70 and its 200-day simple moving average is $17.09. The stock has a market capitalization of $901.73 million, a PE ratio of -7.55 and a beta of 1.40.

Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.24. Monte Rosa Therapeutics had a negative return on equity of 30.14% and a negative net margin of 186.24%. The company had revenue of $54.37 million for the quarter, compared to the consensus estimate of $33.87 million. As a group, research analysts anticipate that Monte Rosa Therapeutics will post -1.13 EPS for the current year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors have recently bought and sold shares of GLUE. AlphaCentric Advisors LLC grew its position in Monte Rosa Therapeutics by 112.0% in the 3rd quarter. AlphaCentric Advisors LLC now owns 26,802 shares of the company’s stock valued at $320,000 after acquiring an additional 14,157 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Monte Rosa Therapeutics in the third quarter worth $52,000. Profund Advisors LLC lifted its position in shares of Monte Rosa Therapeutics by 7.6% during the third quarter. Profund Advisors LLC now owns 32,406 shares of the company’s stock worth $387,000 after purchasing an additional 2,295 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Monte Rosa Therapeutics by 14.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 17,166 shares of the company’s stock valued at $202,000 after purchasing an additional 2,121 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in shares of Monte Rosa Therapeutics by 842.3% during the third quarter. Sterling Capital Management LLC now owns 2,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,190 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Monte Rosa Therapeutics Company Profile

(Get Free Report)

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company focused on developing molecular glue degraders, a class of medicines designed to eliminate disease-causing proteins by directing them to the cell’s natural protein-degradation machinery. The company’s approach is intended to address targets that may be difficult to inhibit with conventional small-molecule drugs.

Monte Rosa uses its QuEEN platform to discover and optimize molecular glue degraders for diseases involving dysregulated immune responses and other biological pathways.

Further Reading

Analyst Recommendations for Monte Rosa Therapeutics (NASDAQ:GLUE)

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