Monte Rosa Therapeutics (NASDAQ:GLUE) Trading Down 4.2%

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUEGet Rating) shares traded down 4.2% on Tuesday . The stock traded as low as $6.54 and last traded at $6.84. 119,128 shares were traded during mid-day trading, a decline of 15% from the average session volume of 140,762 shares. The stock had previously closed at $7.14.

Analyst Ratings Changes

GLUE has been the subject of a number of recent analyst reports. Wells Fargo & Company raised shares of Monte Rosa Therapeutics from an “equal weight” rating to an “overweight” rating and set a $18.00 target price for the company in a research note on Monday, January 2nd. Credit Suisse Group cut their price objective on shares of Monte Rosa Therapeutics to $12.00 in a report on Wednesday, November 16th. Finally, UBS Group began coverage on shares of Monte Rosa Therapeutics in a report on Thursday, October 13th. They issued a “buy” rating and a $22.00 price target on the stock.

Monte Rosa Therapeutics Stock Down 4.2 %

The stock has a fifty day moving average price of $8.20 and a 200-day moving average price of $8.50.

Monte Rosa Therapeutics (NASDAQ:GLUEGet Rating) last released its earnings results on Thursday, November 10th. The company reported ($0.58) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.03. Sell-side analysts forecast that Monte Rosa Therapeutics, Inc. will post -2.28 EPS for the current year.

Institutional Trading of Monte Rosa Therapeutics

Hedge funds have recently made changes to their positions in the stock. Metropolitan Life Insurance Co NY acquired a new position in shares of Monte Rosa Therapeutics during the 1st quarter valued at $30,000. Ameritas Investment Partners Inc. boosted its position in Monte Rosa Therapeutics by 152.6% during the first quarter. Ameritas Investment Partners Inc. now owns 2,241 shares of the company’s stock valued at $31,000 after purchasing an additional 1,354 shares during the last quarter. Amalgamated Bank bought a new position in Monte Rosa Therapeutics during the first quarter valued at about $40,000. Legal & General Group Plc raised its holdings in Monte Rosa Therapeutics by 38.7% during the second quarter. Legal & General Group Plc now owns 6,924 shares of the company’s stock valued at $67,000 after buying an additional 1,931 shares in the last quarter. Finally, Credit Suisse AG bought a new position in shares of Monte Rosa Therapeutics in the second quarter worth about $98,000. Institutional investors own 83.19% of the company’s stock.

Monte Rosa Therapeutics Company Profile

(Get Rating)

Monte Rosa Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. It develops an oral molecular glue degrader for GSPT1, a translational termination factor and degron-containing protein for the treatment of Myc-driven cancers.

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