Monte Rosa Therapeutics (NASDAQ:GLUE) Stock Rating Upgraded by UBS Group

Monte Rosa Therapeutics (NASDAQ:GLUE) was upgraded by equities research analysts at UBS Group to a “hold” rating in a research report issued on Sunday, Zacks reports.

Other equities research analysts have also recently issued research reports about the company. Guggenheim reaffirmed a “buy” rating and set a $28.00 target price on shares of Monte Rosa Therapeutics in a research note on Tuesday, August 25th. HC Wainwright began coverage on Monte Rosa Therapeutics in a report on Thursday, October 1st. They set a “buy” rating and a $25.00 price target on the stock. Wedbush restated an “outperform” rating and set a $27.00 price target on shares of Monte Rosa Therapeutics in a report on Wednesday, September 9th. JPMorgan Chase & Co. reduced their price objective on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Finally, TD Cowen upgraded shares of Monte Rosa Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.67.

Monte Rosa Therapeutics Trading Down 6.0%

Shares of GLUE opened at $9.89 on Friday. The firm’s fifty day simple moving average is $13.32 and its two-hundred day simple moving average is $17.45. Monte Rosa Therapeutics has a 12 month low of $8.94 and a 12 month high of $25.77. The stock has a market capitalization of $843.72 million, a P/E ratio of -5.62 and a beta of 1.37.

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

Hedge Funds Weigh In On Monte Rosa Therapeutics

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Monte Rosa Therapeutics during the second quarter valued at about $165,603,000. Jupiter Topco LLC bought a new stake in shares of Monte Rosa Therapeutics during the second quarter worth about $25,965,000. Dimensional Fund Advisors LP raised its holdings in shares of Monte Rosa Therapeutics by 83.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,041,372 shares of the company’s stock worth $17,125,000 after acquiring an additional 473,005 shares during the last quarter. Opaleye Management Inc. acquired a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter worth about $18,029,000. Finally, Janus Henderson Group PLC bought a new position in Monte Rosa Therapeutics in the 1st quarter valued at about $11,294,000. 79.96% of the stock is currently owned by institutional investors.

Monte Rosa Therapeutics Company Profile

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.