Wells Fargo & Company Issues Pessimistic Forecast for Monte Rosa Therapeutics (NASDAQ:GLUE) Stock Price

Monte Rosa Therapeutics (NASDAQ:GLUE - Free Report) had its target price cut by Wells Fargo & Company from $11.00 to $10.00 in a research report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts also recently issued research reports about the stock. Lifesci Capital initiated coverage on shares of Monte Rosa Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating and a $19.00 target price for the company. Wedbush reaffirmed an "outperform" rating and issued a $17.00 price objective (up previously from $15.00) on shares of Monte Rosa Therapeutics in a research note on Thursday, March 20th.

Monte Rosa Therapeutics Stock Down 2.3 %

NASDAQ:GLUE traded down $0.14 during mid-day trading on Friday, hitting $5.69. 333,915 shares of the company traded hands, compared to its average volume of 938,440. Monte Rosa Therapeutics has a one year low of $3.21 and a one year high of $12.40. The firm has a market cap of $349.76 million, a price-to-earnings ratio of -3.11 and a beta of 1.50. The stock's fifty day moving average price is $6.18 and its 200-day moving average price is $6.78.

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Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of ($0.37) by $0.60. The firm had revenue of $14.00 million for the quarter, compared to the consensus estimate of $43.73 million. Equities analysts predict that Monte Rosa Therapeutics will post -1.49 EPS for the current year.

Institutional Trading of Monte Rosa Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Monte Rosa Therapeutics by 192.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company's stock valued at $38,000 after purchasing an additional 3,584 shares during the last quarter. GAMMA Investing LLC boosted its stake in Monte Rosa Therapeutics by 10,665.5% during the fourth quarter. GAMMA Investing LLC now owns 5,921 shares of the company's stock valued at $41,000 after buying an additional 5,866 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Monte Rosa Therapeutics during the 4th quarter valued at approximately $43,000. Virtus ETF Advisers LLC purchased a new stake in shares of Monte Rosa Therapeutics during the 4th quarter worth approximately $63,000. Finally, Intech Investment Management LLC bought a new position in shares of Monte Rosa Therapeutics during the 3rd quarter valued at approximately $77,000. 79.96% of the stock is currently owned by institutional investors.

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.