Monte Rosa Therapeutics (NASDAQ:GLUE) Stock Rating Raised to “Hold” at UBS Group

Monte Rosa Therapeutics (NASDAQ:GLUE) was upgraded by equities research analysts at UBS Group to a “hold” rating in a research note issued to investors on Sunday, Zacks reports.

Several other equities analysts have also recently weighed in on GLUE. Wedbush restated an “outperform” rating and set a $27.00 price objective on shares of Monte Rosa Therapeutics in a research note on Wednesday, September 9th. Zacks Research raised shares of Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Wells Fargo & Company reduced their price objective on Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Raymond James Financial set a $25.00 target price on Monte Rosa Therapeutics in a research note on Monday, October 5th. Finally, Weiss Ratings lowered shares of Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note 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 assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Monte Rosa Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

Monte Rosa Therapeutics Stock Performance

Shares of NASDAQ:GLUE opened at $9.89 on Friday. The firm has a market cap of $843.72 million, a PE ratio of -5.62 and a beta of 1.37. Monte Rosa Therapeutics has a 52 week low of $8.94 and a 52 week high of $25.77. The firm’s fifty day moving average is $13.32 and its 200-day moving average is $17.45.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). The firm had revenue of $8.97 million for the quarter, compared to the consensus estimate of $12.91 million. Monte Rosa Therapeutics had a negative return on equity of 43.31% and a negative net margin of 560.85%. Sell-side analysts forecast that Monte Rosa Therapeutics will post -1.23 EPS for the current year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Alphabet Inc. bought a new stake in Monte Rosa Therapeutics in the second quarter worth about $9,014,000. Bank of America Corp DE bought a new position in shares of Monte Rosa Therapeutics in the second quarter worth about $6,160,000. The Manufacturers Life Insurance Company boosted its position in Monte Rosa Therapeutics by 55.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 209,801 shares of the company’s stock valued at $3,451,000 after buying an additional 75,127 shares during the period. Bank of New York Mellon Corp purchased a new stake in Monte Rosa Therapeutics in the 2nd quarter valued at about $5,385,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Monte Rosa Therapeutics during the first quarter worth approximately $11,294,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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.