Wedbush Equities Analysts Raise Earnings Estimates for GLUE

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) - Stock analysts at Wedbush increased their FY2028 EPS estimates for Monte Rosa Therapeutics in a research report issued on Thursday, November 7th. Wedbush analyst R. Driscoll now expects that the company will earn $1.18 per share for the year, up from their previous estimate of $1.15. Wedbush currently has a "Outperform" rating and a $15.00 price objective on the stock. The consensus estimate for Monte Rosa Therapeutics' current full-year earnings is ($1.83) per share.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.29) EPS for the quarter, beating analysts' consensus estimates of ($0.45) by $0.16. The firm had revenue of $9.22 million for the quarter, compared to analysts' expectations of $4.54 million.

Separately, Wells Fargo & Company dropped their price objective on shares of Monte Rosa Therapeutics from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Monday, August 12th.

Monte Rosa Therapeutics Stock Up 8.1 %

Shares of Monte Rosa Therapeutics stock traded up $0.75 on Monday, reaching $10.01. 1,717,099 shares of the stock were exchanged, compared to its average volume of 752,513. Monte Rosa Therapeutics has a twelve month low of $2.91 and a twelve month high of $12.40. The business has a 50 day moving average price of $6.25 and a two-hundred day moving average price of $5.16. The firm has a market capitalization of $614.34 million, a price-to-earnings ratio of -5.38 and a beta of 1.30.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several hedge funds have recently modified their holdings of GLUE. Meeder Asset Management Inc. acquired a new position in Monte Rosa Therapeutics in the 2nd quarter worth about $38,000. SG Americas Securities LLC acquired a new position in shares of Monte Rosa Therapeutics during the 3rd quarter worth approximately $55,000. Intech Investment Management LLC purchased a new position in shares of Monte Rosa Therapeutics during the 3rd quarter valued at approximately $77,000. EntryPoint Capital LLC acquired a new stake in Monte Rosa Therapeutics in the 1st quarter valued at $112,000. Finally, American Century Companies Inc. increased its holdings in Monte Rosa Therapeutics by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 49,410 shares of the company's stock worth $185,000 after acquiring an additional 15,562 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 541,897 shares of the company's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $6.00, for a total value of $3,251,382.00. Following the sale, the insider now owns 6,257,218 shares in the company, valued at approximately $37,543,308. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 1,773,722 shares of company stock worth $11,573,438. 6.50% of the stock is owned by corporate insiders.

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.