Monte Rosa Therapeutics (NASDAQ:GLUE) Earns “Overweight” Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of Monte Rosa Therapeutics (NASDAQ:GLUE) in a report issued on Friday, Benzinga reports. Piper Sandler currently has a $16.00 price objective on the stock.

Separately, Wedbush reaffirmed an outperform rating and set a $11.00 price target on shares of Monte Rosa Therapeutics in a research report on Wednesday, May 22nd.

Monte Rosa Therapeutics Stock Performance

NASDAQ:GLUE opened at $3.94 on Friday. Monte Rosa Therapeutics has a 52 week low of $2.44 and a 52 week high of $8.84. The firm has a market cap of $199.01 million, a price-to-earnings ratio of -1.56 and a beta of 1.38. The firm’s 50-day simple moving average is $4.51 and its 200 day simple moving average is $5.49.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.03. The business had revenue of $1.06 million for the quarter, compared to the consensus estimate of $4.29 million. Sell-side analysts anticipate that Monte Rosa Therapeutics will post -1.92 EPS for the current year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

A number of large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in Monte Rosa Therapeutics by 3.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,096,787 shares of the company’s stock worth $35,933,000 after buying an additional 155,880 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Monte Rosa Therapeutics in the 1st quarter valued at approximately $112,000. Acadian Asset Management LLC boosted its stake in shares of Monte Rosa Therapeutics by 92.5% in the 1st quarter. Acadian Asset Management LLC now owns 55,548 shares of the company’s stock valued at $390,000 after purchasing an additional 26,687 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Monte Rosa Therapeutics by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock valued at $11,533,000 after purchasing an additional 47,412 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Monte Rosa Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 23,327 shares of the company’s stock valued at $132,000 after purchasing an additional 5,915 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.