Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report)‘s stock had its “overweight” rating restated by research analysts at Piper Sandler in a report released on Friday, Benzinga reports. They presently have a $16.00 price objective on the stock. Piper Sandler’s price target suggests a potential upside of 379.04% from the stock’s current price.
Separately, Wedbush reissued an “outperform” rating and issued a $11.00 target price on shares of Monte Rosa Therapeutics in a report on Wednesday, May 22nd.
View Our Latest Stock Report on GLUE
Monte Rosa Therapeutics Trading Down 1.2 %
Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.03. The business had revenue of $1.06 million for the quarter, compared to analyst estimates of $4.29 million. Research analysts expect that Monte Rosa Therapeutics will post -1.92 EPS for the current year.
Institutional Trading of Monte Rosa Therapeutics
Institutional investors have recently bought and sold shares of the company. Corton Capital Inc. acquired a new position in shares of Monte Rosa Therapeutics during the 3rd quarter worth $69,000. EntryPoint Capital LLC acquired a new position in Monte Rosa Therapeutics during the first quarter worth about $112,000. Exchange Traded Concepts LLC lifted its holdings in shares of Monte Rosa Therapeutics by 34.0% in the fourth 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. Acadian Asset Management LLC lifted its holdings in shares of Monte Rosa Therapeutics by 92.5% in the first 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. Finally, Vanguard Group Inc. grew its position in shares of Monte Rosa Therapeutics by 3.0% in the first 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 during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.
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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