Wedbush Reiterates Outperform Rating for Monte Rosa Therapeutics (NASDAQ:GLUE)

Wedbush reaffirmed their outperform rating on shares of Monte Rosa Therapeutics (NASDAQ:GLUE) in a research note published on Wednesday morning, Benzinga reports. The firm currently has a $11.00 price objective on the stock. Wedbush also issued estimates for Monte Rosa Therapeutics’ Q2 2024 earnings at ($0.37) EPS, Q3 2024 earnings at ($0.34) EPS, Q4 2024 earnings at ($0.33) EPS, FY2024 earnings at ($1.56) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.28) EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.30) EPS, FY2025 earnings at ($1.16) EPS, FY2026 earnings at ($1.20) EPS, FY2027 earnings at ($0.20) EPS and FY2028 earnings at $1.17 EPS.

Monte Rosa Therapeutics Price Performance

Shares of NASDAQ GLUE opened at $4.16 on Wednesday. Monte Rosa Therapeutics has a 1 year low of $2.44 and a 1 year high of $8.84. The company’s 50-day moving average is $6.08 and its 200 day moving average is $5.40. The stock has a market capitalization of $210.12 million, a P/E ratio of -1.65 and a beta of 1.54.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.01). Research analysts anticipate that Monte Rosa Therapeutics will post -1.92 earnings per share for the current year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in GLUE. Corton Capital Inc. purchased a new stake in shares of Monte Rosa Therapeutics in the 3rd quarter worth approximately $69,000. EntryPoint Capital LLC purchased a new position in Monte Rosa Therapeutics during the first quarter valued at $112,000. Exchange Traded Concepts LLC boosted its holdings in Monte Rosa Therapeutics by 34.0% in the fourth 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 grew its stake 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 worth $390,000 after acquiring an additional 26,687 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Monte Rosa Therapeutics by 3.0% during the first quarter. Vanguard Group Inc. now owns 1,635,829 shares of the company’s stock valued at $11,533,000 after acquiring an additional 47,412 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

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.