Wells Fargo & Company Boosts Monte Rosa Therapeutics (NASDAQ:GLUE) Price Target to $13.00

Monte Rosa Therapeutics (NASDAQ:GLUE) had its target price upped by Wells Fargo & Company from $10.00 to $13.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 5.61% from the company’s previous close.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Monte Rosa Therapeutics in a research report on Friday, October 31st. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Monte Rosa Therapeutics has an average rating of “Hold” and a consensus target price of $16.33.

Monte Rosa Therapeutics Stock Performance

GLUE opened at $12.31 on Friday. The stock has a market capitalization of $760.27 million, a price-to-earnings ratio of 38.47 and a beta of 1.62. The company has a fifty day moving average of $8.43 and a 200 day moving average of $6.02. Monte Rosa Therapeutics has a fifty-two week low of $3.50 and a fifty-two week high of $13.59.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.06. The business had revenue of $12.77 million for the quarter, compared to analysts’ expectations of $7.37 million. Monte Rosa Therapeutics had a net margin of 11.54% and a return on equity of 8.20%. On average, equities research analysts forecast that Monte Rosa Therapeutics will post -1.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GLUE. Brighton Jones LLC purchased a new position in Monte Rosa Therapeutics in the second quarter worth about $48,000. Lazard Asset Management LLC lifted its stake in shares of Monte Rosa Therapeutics by 42.9% in the 2nd quarter. Lazard Asset Management LLC now owns 10,857 shares of the company’s stock valued at $48,000 after purchasing an additional 3,262 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of Monte Rosa Therapeutics in the 2nd quarter worth approximately $54,000. Pallas Capital Advisors LLC purchased a new position in shares of Monte Rosa Therapeutics in the 2nd quarter worth approximately $59,000. Finally, Sei Investments Co. bought a new position in shares of Monte Rosa Therapeutics during the 2nd quarter valued at approximately $74,000. 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.