Wedbush Has Optimistic Outlook of GLUE FY2028 Earnings

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) – Equities research analysts at Wedbush upped their FY2028 earnings per share estimates for Monte Rosa Therapeutics in a research note issued on Thursday, November 7th. Wedbush analyst R. Driscoll now forecasts that the company will post earnings per share of $1.18 for the year, up from their previous forecast of $1.15. Wedbush currently has a “Outperform” rating and a $15.00 target price on the stock. The consensus estimate for Monte Rosa Therapeutics’ current full-year earnings is ($1.83) per share.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.16. The firm had revenue of $9.22 million during the quarter, compared to analysts’ expectations of $4.54 million.

Separately, Wells Fargo & Company reduced their price objective on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th.

Monte Rosa Therapeutics Stock Performance

Shares of Monte Rosa Therapeutics stock opened at $9.13 on Monday. Monte Rosa Therapeutics has a one year low of $2.91 and a one year high of $12.40. The company has a market cap of $560.34 million, a price-to-earnings ratio of -4.99 and a beta of 1.30. The business’s 50 day moving average price is $6.33 and its 200 day moving average price is $5.19.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLUE. Meeder Asset Management Inc. acquired a new stake in Monte Rosa Therapeutics during the second quarter worth $38,000. SG Americas Securities LLC acquired a new stake in shares of Monte Rosa Therapeutics in the third quarter valued at $55,000. Intech Investment Management LLC acquired a new stake in shares of Monte Rosa Therapeutics in the third quarter valued at $77,000. EntryPoint Capital LLC acquired a new stake in shares of Monte Rosa Therapeutics in the first quarter valued at $112,000. Finally, American Century Companies Inc. grew its stake in shares of Monte Rosa Therapeutics by 46.0% in the second quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock valued at $185,000 after buying an additional 15,562 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Insiders Place Their Bets

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 89,990 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $9.66, for a total transaction of $869,303.40. Following the completion of the sale, the insider now owns 2,007,948 shares of the company’s stock, valued at $19,396,777.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,773,722 shares of company stock valued at $11,573,438 over the last quarter. 6.50% of the stock is owned by insiders.

Monte Rosa Therapeutics Company Profile

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.