Monte Rosa Therapeutics (NASDAQ:GLUE) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Monte Rosa Therapeutics (NASDAQ:GLUE) from a sell rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other brokerages also recently issued reports on GLUE. Zacks Research upgraded shares of Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Benchmark reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a research report on Monday, October 5th. Weiss Ratings cut Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. TD Cowen upgraded Monte Rosa Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. Finally, Raymond James Financial set a $25.00 target price on Monte Rosa Therapeutics in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Monte Rosa Therapeutics has an average rating of “Moderate Buy” and an average price target of $26.44.

Monte Rosa Therapeutics Trading Up 3.1%

Shares of GLUE opened at $10.57 on Friday. Monte Rosa Therapeutics has a 12-month low of $9.68 and a 12-month high of $25.77. The firm has a 50-day moving average price of $11.70 and a 200 day moving average price of $17.09. The firm has a market capitalization of $901.73 million, a P/E ratio of -7.55 and a beta of 1.40.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, November 5th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.24. Monte Rosa Therapeutics had a negative net margin of 186.24% and a negative return on equity of 31.63%. The company had revenue of $54.37 million for the quarter, compared to the consensus estimate of $33.87 million. Equities research analysts predict that Monte Rosa Therapeutics will post -1.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE purchased a new position in shares of Monte Rosa Therapeutics during the second quarter worth $6,160,000. Alphabet Inc. purchased a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter valued at $9,014,000. The Manufacturers Life Insurance Company raised its holdings in shares of 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 shares of Monte Rosa Therapeutics in the 2nd quarter valued at $5,385,000. Finally, Janus Henderson Group PLC acquired a new position in Monte Rosa Therapeutics during the 1st quarter worth about $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 molecular glue degraders, a class of medicines designed to eliminate disease-causing proteins by directing them to the cell’s natural protein-degradation machinery. The company’s approach is intended to address targets that may be difficult to inhibit with conventional small-molecule drugs.

Monte Rosa uses its QuEEN platform to discover and optimize molecular glue degraders for diseases involving dysregulated immune responses and other biological pathways.