Monte Rosa Therapeutics (NASDAQ:GLUE) PT Lowered to $11.00 at Credit Suisse Group

Monte Rosa Therapeutics (NASDAQ:GLUE – Get Rating) had its target price reduced by equities research analysts at Credit Suisse Group from $12.00 to $11.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Credit Suisse Group’s price objective would suggest a potential upside of 52.35% from the stock’s previous close.

Separately, 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 report on Monday, January 2nd.

Monte Rosa Therapeutics Stock Up 3.0 %

GLUE opened at $7.22 on Friday. The company has a fifty day moving average price of $6.88 and a two-hundred day moving average price of $7.75. Monte Rosa Therapeutics has a 52 week low of $5.74 and a 52 week high of $15.52.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in GLUE. Metropolitan Life Insurance Co NY acquired a new position in shares of Monte Rosa Therapeutics in the 1st quarter valued at $30,000. Ameritas Investment Partners Inc. grew its holdings in shares of Monte Rosa Therapeutics by 152.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,241 shares of the company’s stock valued at $31,000 after buying an additional 1,354 shares during the period. Barclays PLC grew its holdings in shares of Monte Rosa Therapeutics by 556.9% in the 4th quarter. Barclays PLC now owns 7,988 shares of the company’s stock valued at $61,000 after buying an additional 6,772 shares during the period. Legal & General Group Plc grew its holdings in shares of Monte Rosa Therapeutics by 38.7% in the 2nd 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 during the period. Finally, UBS Group AG acquired a new position in shares of Monte Rosa Therapeutics in the 4th quarter valued at $70,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Monte Rosa Therapeutics Company Profile

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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.