Monte Rosa Therapeutics (NASDAQ:GLUE) Given New $10.00 Price Target at Wells Fargo & Company

Monte Rosa Therapeutics (NASDAQ:GLUE) had its target price trimmed by Wells Fargo & Company from $11.00 to $10.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other research analysts have also recently issued reports about the stock. Wedbush restated an “outperform” rating and issued a $17.00 price objective (up from $15.00) on shares of Monte Rosa Therapeutics in a research report on Thursday. Lifesci Capital began coverage on shares of Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 price objective on the stock.

Monte Rosa Therapeutics Stock Down 17.8 %

Shares of GLUE opened at $5.80 on Friday. The business’s 50-day moving average price is $6.18 and its 200-day moving average price is $6.78. Monte Rosa Therapeutics has a twelve month low of $3.21 and a twelve month high of $12.40. The stock has a market cap of $356.33 million, a PE ratio of -3.17 and a beta of 1.50.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $43.73 million. Analysts expect that Monte Rosa Therapeutics will post -1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in Monte Rosa Therapeutics by 7.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,116,637 shares of the company’s stock valued at $49,391,000 after acquiring an additional 515,496 shares during the last quarter. Versant Venture Management LLC purchased a new stake in shares of Monte Rosa Therapeutics during the fourth quarter valued at approximately $39,231,000. Vanguard Group Inc. boosted its stake in shares of Monte Rosa Therapeutics by 24.5% during the fourth quarter. Vanguard Group Inc. now owns 3,156,354 shares of the company’s stock valued at $21,905,000 after purchasing an additional 622,134 shares during the period. BVF Inc. IL purchased a new stake in shares of Monte Rosa Therapeutics during the fourth quarter valued at approximately $19,185,000. Finally, Geode Capital Management LLC boosted its stake in shares of Monte Rosa Therapeutics by 23.3% during the third quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock valued at $5,538,000 after purchasing an additional 197,247 shares during the period. 79.96% of the stock is currently 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.