Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target Lowered to $10.00 at Wells Fargo & Company

Monte Rosa Therapeutics (NASDAQ:GLUE) had its price target lowered by research analysts at Wells Fargo & Company from $11.00 to $10.00 in a report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 72.47% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Lifesci Capital began coverage on shares of Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $17.00 price target (up from $15.00) on shares of Monte Rosa Therapeutics in a research note on Thursday.

Monte Rosa Therapeutics Stock Down 17.9 %

Shares of NASDAQ GLUE traded down $1.26 during midday trading on Friday, hitting $5.80. 1,002,114 shares of the company’s stock were exchanged, compared to its average volume of 928,638. The firm has a market capitalization of $356.21 million, a PE ratio of -3.13 and a beta of 1.50. Monte Rosa Therapeutics has a 12 month low of $3.21 and a 12 month high of $12.40. The company’s 50 day moving average price is $6.18 and its 200 day moving average price is $6.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings data on Thursday, March 20th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of ($0.37) by $0.60. The company had revenue of $14.00 million during the quarter, compared to analyst estimates of $43.73 million. On average, equities research analysts anticipate that Monte Rosa Therapeutics will post -1.49 EPS for the current year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its holdings in Monte Rosa Therapeutics by 192.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company’s stock valued at $38,000 after acquiring an additional 3,584 shares in the last quarter. GAMMA Investing LLC grew its stake in Monte Rosa Therapeutics by 10,665.5% during the fourth quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock worth $41,000 after buying an additional 5,866 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Monte Rosa Therapeutics during the fourth quarter worth about $43,000. Virtus ETF Advisers LLC bought a new position in Monte Rosa Therapeutics in the 4th quarter valued at about $63,000. Finally, Intech Investment Management LLC bought a new position in Monte Rosa Therapeutics in the 3rd quarter valued at about $77,000. 79.96% of the stock is currently owned by institutional investors.

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.