Piper Sandler restated their overweight rating on shares of Monte Rosa Therapeutics (NASDAQ:GLUE – Free Report) 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.
View Our Latest Analysis on Monte Rosa Therapeutics
Monte Rosa Therapeutics Stock Performance
Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) 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.
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