Piper Sandler Reaffirms “Overweight” Rating for Monte Rosa Therapeutics (NASDAQ:GLUE)

Piper Sandler reaffirmed their overweight rating on shares of Monte Rosa Therapeutics (NASDAQ:GLUE) in a research report released on Friday morning, Benzinga reports. Piper Sandler currently has a $16.00 price target on the stock.

Separately, Wedbush reiterated an outperform rating and issued a $11.00 price target on shares of Monte Rosa Therapeutics in a research report on Wednesday, May 22nd.

Monte Rosa Therapeutics Price Performance

Shares of GLUE stock opened at $3.74 on Friday. Monte Rosa Therapeutics has a one year low of $2.44 and a one year high of $8.84. The stock has a fifty day moving average price of $4.54 and a 200 day moving average price of $5.50. The stock has a market cap of $188.91 million, a P/E ratio of -1.48 and a beta of 1.41.

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

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Monte Rosa Therapeutics by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,096,787 shares of the company’s stock valued at $35,933,000 after buying an additional 155,880 shares during the last quarter. Vanguard Group Inc. lifted its position 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 worth $11,533,000 after purchasing an additional 47,412 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Monte Rosa Therapeutics by 92.5% during 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 during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Monte Rosa Therapeutics in the first quarter valued at approximately $112,000. Finally, Corton Capital Inc. bought a new position in Monte Rosa Therapeutics in the 3rd quarter worth approximately $69,000. 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.