Monte Rosa Therapeutics (NASDAQ:GLUE) Earns Outperform Rating from Analysts at Lifesci Capital

Lifesci Capital started coverage on shares of Monte Rosa Therapeutics (NASDAQ:GLUE) in a note issued to investors on Wednesday,Benzinga reports. The firm set an “outperform” rating and a $19.00 price target on the stock. Lifesci Capital’s price objective would suggest a potential upside of 189.90% from the company’s previous close.

Separately, Wells Fargo & Company lowered shares of Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $14.00 to $11.00 in a report on Thursday, December 19th.

Monte Rosa Therapeutics Trading Up 7.3 %

NASDAQ:GLUE traded up $0.44 during mid-day trading on Wednesday, hitting $6.55. The company’s stock had a trading volume of 237,151 shares, compared to its average volume of 680,794. The company has a market capitalization of $402.66 million, a price-to-earnings ratio of -3.56 and a beta of 1.50. Monte Rosa Therapeutics has a fifty-two week low of $3.21 and a fifty-two week high of $12.40. The stock has a fifty day moving average of $6.18 and a 200-day moving average of $6.77.

Institutional Trading of Monte Rosa Therapeutics

Large investors have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new stake in shares of Monte Rosa Therapeutics during the fourth quarter valued at approximately $220,000. Two Sigma Advisers LP bought a new position in Monte Rosa Therapeutics in the 4th quarter valued at $180,000. Two Sigma Investments LP increased its stake in shares of Monte Rosa Therapeutics by 1,965.1% in the 4th quarter. Two Sigma Investments LP now owns 278,785 shares of the company’s stock valued at $1,935,000 after buying an additional 265,285 shares during the period. Rafferty Asset Management LLC bought a new stake in shares of Monte Rosa Therapeutics during the fourth quarter worth $192,000. Finally, ProShare Advisors LLC acquired a new position in shares of Monte Rosa Therapeutics during the fourth quarter valued at $101,000. Institutional investors own 79.96% of the company’s stock.

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.