Monte Rosa Therapeutics (NASDAQ:GLUE) Upgraded to “Hold” at UBS Group

UBS Group upgraded shares of Monte Rosa Therapeutics (NASDAQ:GLUE) to a hold rating in a report released on Sunday,Zacks reports.

Several other analysts also recently issued reports on the company. Benchmark reissued a “buy” rating on shares of Monte Rosa Therapeutics in a research note on Monday, October 5th. HC Wainwright initiated coverage on Monte Rosa Therapeutics in a research report on Thursday, October 1st. They set a “buy” rating and a $25.00 price objective for the company. Raymond James Financial set a $25.00 price objective on Monte Rosa Therapeutics in a report on Monday, October 5th. Wells Fargo & Company decreased their price objective on Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, Weiss Ratings lowered Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Monte Rosa Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

Monte Rosa Therapeutics Trading Down 6.0%

Shares of Monte Rosa Therapeutics stock opened at $9.89 on Friday. The stock’s fifty day simple moving average is $13.32 and its 200 day simple moving average is $17.45. The company has a market capitalization of $843.72 million, a PE ratio of -5.62 and a beta of 1.37. Monte Rosa Therapeutics has a 12 month low of $8.94 and a 12 month high of $25.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.05). The company had revenue of $8.97 million during the quarter, compared to the consensus estimate of $12.91 million. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. Analysts predict that Monte Rosa Therapeutics will post -1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in GLUE. Opaleye Management Inc. acquired a new position in Monte Rosa Therapeutics during the second quarter worth $18,029,000. Squarepoint Ops LLC lifted its stake in Monte Rosa Therapeutics by 123.6% in the second quarter. Squarepoint Ops LLC now owns 82,953 shares of the company’s stock valued at $2,007,000 after acquiring an additional 45,846 shares during the last quarter. Arizona State Retirement System acquired a new stake in Monte Rosa Therapeutics in the second quarter valued at $321,000. HighTower Advisors LLC acquired a new stake in Monte Rosa Therapeutics in the second quarter valued at $371,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Monte Rosa Therapeutics in the 2nd quarter valued at about $273,000. 79.96% of the stock is owned by institutional investors.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary molecular glue degrader platform to identify small molecules that recruit targeted proteins to the cell’s natural protein-disposal machinery, potentially addressing proteins that have been difficult to treat with conventional drugs.

Monte Rosa’s pipeline is centered primarily on autoimmune and inflammatory diseases, as well as other serious conditions.