Monte Rosa Therapeutics (NASDAQ:GLUE) Rating Reiterated by Piper Sandler

Monte Rosa Therapeutics (NASDAQ:GLUE)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Piper Sandler in a report released on Friday, Benzinga reports. They currently have a $16.00 price target on the stock. Piper Sandler’s price objective points to a potential upside of 327.81% from the stock’s previous close.

Separately, Wedbush restated an “outperform” rating and set a $11.00 target price on shares of Monte Rosa Therapeutics in a report on Wednesday, May 22nd.

Monte Rosa Therapeutics Price Performance

Shares of GLUE stock opened at $3.74 on Friday. The stock has a market capitalization of $188.91 million, a PE ratio of -1.48 and a beta of 1.41. Monte Rosa Therapeutics has a 1-year low of $2.44 and a 1-year high of $8.84. The business has a 50-day moving average of $4.54 and a 200 day moving average of $5.50.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, May 9th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.03. The company had revenue of $1.06 million for the quarter, compared to analysts’ expectations of $4.29 million. Analysts anticipate that Monte Rosa Therapeutics will post -1.92 EPS for the current year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Corton Capital Inc. bought a new position in shares of Monte Rosa Therapeutics in the 3rd quarter worth approximately $69,000. EntryPoint Capital LLC bought a new position in shares of Monte Rosa Therapeutics in the 1st quarter worth approximately $112,000. Exchange Traded Concepts LLC raised its position 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 worth $132,000 after acquiring an additional 5,915 shares in the last quarter. Acadian Asset Management LLC raised its position 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 worth $390,000 after acquiring an additional 26,687 shares in the last quarter. Finally, Vanguard Group Inc. raised its position 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 worth $11,533,000 after acquiring an additional 47,412 shares in the last quarter. Hedge funds and other 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.