FY2029 Earnings Forecast for GLUE Issued By Wedbush

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) – Equities researchers at Wedbush issued their FY2029 earnings estimates for Monte Rosa Therapeutics in a research note issued on Thursday, March 20th. Wedbush analyst R. Driscoll expects that the company will post earnings per share of ($1.33) for the year. Wedbush currently has a “Outperform” rating and a $17.00 price target on the stock. The consensus estimate for Monte Rosa Therapeutics’ current full-year earnings is ($1.49) per share.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings results on Thursday, March 20th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.60. The firm had revenue of $14.00 million during the quarter, compared to analyst estimates of $43.73 million.

Other equities analysts have also recently issued reports about the stock. Lifesci Capital assumed coverage on shares of Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price target for the company. Wells Fargo & Company reduced their target price on shares of Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, March 21st.

Monte Rosa Therapeutics Stock Performance

NASDAQ:GLUE opened at $5.67 on Monday. The stock has a 50-day simple moving average of $6.19 and a 200 day simple moving average of $6.78. Monte Rosa Therapeutics has a 52-week low of $3.21 and a 52-week high of $12.40. The company has a market cap of $348.35 million, a PE ratio of -3.10 and a beta of 1.50.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of institutional investors have recently added to or reduced their stakes in GLUE. Geode Capital Management LLC grew its position in shares of Monte Rosa Therapeutics by 23.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company’s stock valued at $5,538,000 after acquiring an additional 197,247 shares during the period. Barclays PLC lifted its stake in Monte Rosa Therapeutics by 395.1% in the 3rd quarter. Barclays PLC now owns 54,508 shares of the company’s stock valued at $289,000 after purchasing an additional 43,499 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Monte Rosa Therapeutics by 54.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,100 shares of the company’s stock valued at $128,000 after purchasing an additional 8,500 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Monte Rosa Therapeutics by 38.2% during the third quarter. JPMorgan Chase & Co. now owns 18,543 shares of the company’s stock worth $98,000 after purchasing an additional 5,125 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Monte Rosa Therapeutics by 14.8% during the third quarter. The Manufacturers Life Insurance Company now owns 117,877 shares of the company’s stock worth $625,000 after buying an additional 15,168 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Monte Rosa Therapeutics

In related news, Director Chandra P. Leo acquired 10,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were bought at an average price of $5.84 per share, for a total transaction of $58,400.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $58,400. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.50% 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.