Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Stock Rated “Moderate Buy” by Wall Street Brokerages

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $26.67.

GLUE has been the topic of several research analyst reports. TD Cowen raised Monte Rosa Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. Benchmark restated a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday, October 5th. Guggenheim reaffirmed a “buy” rating and set a $28.00 target price on shares of Monte Rosa Therapeutics in a research report on Tuesday, August 25th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, July 27th. Finally, Wells Fargo & Company lowered their target price on Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Monte Rosa Therapeutics in the second quarter worth about $165,603,000. Jupiter Topco LLC purchased a new position in Monte Rosa Therapeutics in the second quarter valued at about $25,965,000. Opaleye Management Inc. purchased a new position in Monte Rosa Therapeutics in the second quarter valued at about $18,029,000. Dimensional Fund Advisors LP boosted its stake in Monte Rosa Therapeutics by 83.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,041,372 shares of the company’s stock valued at $17,125,000 after acquiring an additional 473,005 shares during the last quarter. Finally, Nantahala Capital Management LLC bought a new position in shares of Monte Rosa Therapeutics during the 2nd quarter valued at approximately $15,778,231. Institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Stock Up 2.1%

Shares of NASDAQ GLUE opened at $10.52 on Tuesday. The company has a market capitalization of $897.49 million, a PE ratio of -5.98 and a beta of 1.37. The stock’s 50 day moving average price is $13.45 and its 200-day moving average price is $17.49. Monte Rosa Therapeutics has a twelve month low of $8.94 and a twelve month high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). The business had revenue of $8.97 million for the quarter, compared to analysts’ expectations of $12.91 million. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. As a group, research analysts expect that Monte Rosa Therapeutics will post -1.23 EPS for the current fiscal year.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary molecular glue degrader platform to identify small molecules that recruit targeted proteins to the cell’s natural protein-disposal machinery, potentially addressing proteins that have been difficult to treat with conventional drugs.

Monte Rosa’s pipeline is centered primarily on autoimmune and inflammatory diseases, as well as other serious conditions.