Monte Rosa Therapeutics (NASDAQ:GLUE) Now Covered by Analysts at Lifesci Capital

Lifesci Capital assumed coverage on shares of Monte Rosa Therapeutics (NASDAQ:GLUE) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage issued an outperform rating and a $19.00 price objective on the stock.

Separately, Wells Fargo & Company lowered Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $14.00 to $11.00 in a research note on Thursday, December 19th.

Monte Rosa Therapeutics Trading Up 8.7 %

NASDAQ GLUE opened at $6.64 on Wednesday. The stock has a market capitalization of $407.94 million, a price-to-earnings ratio of -3.63 and a beta of 1.50. The business’s 50 day moving average is $6.18 and its two-hundred day moving average is $6.77. Monte Rosa Therapeutics has a 12-month low of $3.21 and a 12-month high of $12.40.

Institutional Investors Weigh In On Monte Rosa Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in shares of 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 period. Versant Venture Management LLC acquired a new stake in shares of Monte Rosa Therapeutics during the fourth quarter worth approximately $39,231,000. Vanguard Group Inc. grew its holdings in shares of Monte Rosa Therapeutics by 24.5% during the 4th quarter. Vanguard Group Inc. now owns 3,156,354 shares of the company’s stock valued at $21,905,000 after acquiring an additional 622,134 shares in the last quarter. BVF Inc. IL purchased a new position in Monte Rosa Therapeutics in the fourth quarter valued at about $19,185,000. Finally, Geode Capital Management LLC grew its stake in shares of Monte Rosa Therapeutics by 23.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock valued at $5,538,000 after buying an additional 197,247 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

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.