Monte Rosa Therapeutics (NASDAQ:GLUE) Stock Price Target Lowered at Wells Fargo & Company

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price target dropped by analysts at Wells Fargo & Company from $27.00 to $25.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 144.88% from the stock’s previous close.

Several other equities analysts also recently commented on GLUE. Wedbush reaffirmed an “outperform” rating and issued a $27.00 price objective on shares of Monte Rosa Therapeutics in a research report on Wednesday, September 9th. Guggenheim reiterated a “buy” rating and set a $28.00 target price on shares of Monte Rosa Therapeutics in a research report on Tuesday, August 25th. UBS Group started 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 for the company. HC Wainwright began coverage on shares of Monte Rosa Therapeutics in a report on Thursday, October 1st. They issued a “buy” rating and a $25.00 price target on the stock. Finally, TD Cowen raised shares of Monte Rosa Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.44.

Monte Rosa Therapeutics Stock Performance

GLUE opened at $10.21 on Friday. The stock’s 50 day moving average price is $11.78 and its 200-day moving average price is $17.16. Monte Rosa Therapeutics has a one year low of $9.68 and a one year high of $25.77. The stock has a market cap of $870.96 million, a price-to-earnings ratio of -5.83 and a beta of 1.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.24. Monte Rosa Therapeutics had a negative return on equity of 43.31% and a negative net margin of 560.85%. The firm had revenue of $54.37 million during the quarter, compared to analyst estimates of $33.87 million. As a group, analysts predict that Monte Rosa Therapeutics will post -1.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of GLUE. Bank of America Corp DE purchased a new position in shares of Monte Rosa Therapeutics in the 2nd quarter valued at $6,160,000. Alphabet Inc. bought a new position in shares of Monte Rosa Therapeutics in the 2nd quarter worth $9,014,000. The Manufacturers Life Insurance Company raised its position in shares of Monte Rosa Therapeutics by 55.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 209,801 shares of the company’s stock worth $3,451,000 after acquiring an additional 75,127 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Monte Rosa Therapeutics in the 2nd quarter worth $5,385,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Monte Rosa Therapeutics during the 1st quarter worth $11,294,000. 79.96% of the stock is currently owned by institutional investors.

Monte Rosa Therapeutics Company Profile

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.