Monte Rosa Therapeutics (NASDAQ:GLUE) Raised to Hold at UBS Group

Key Points

• UBS Group upgraded Monte Rosa Therapeutics to “Hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $26.67.
• Shares opened at $9.89 after falling 6%, close to their 52-week low of $8.94. The company reported a quarterly loss of $0.43 per share and revenue of $8.97 million, both worse than analysts’ expectations.
• Institutional ownership stands at nearly 80%, with several investors adding or initiating positions during the second quarter, including Opaleye Management’s approximately $18 million investment.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) was upgraded by analysts at UBS Group to a "hold" rating in a report issued on Sunday, Zacks reports.

Several other research analysts have also issued reports on GLUE. JPMorgan Chase & Co. dropped their price objective on Monte Rosa Therapeutics from $31.00 to $27.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. Wells Fargo & Company lowered their target price on Monte Rosa Therapeutics from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. HC Wainwright initiated coverage on shares of Monte Rosa Therapeutics in a research report on Thursday, October 1st. They set a "buy" rating and a $25.00 target price on the stock. Benchmark reissued a "buy" rating on shares of Monte Rosa Therapeutics in a report on Monday, October 5th. Finally, Weiss Ratings downgraded Monte Rosa Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. One 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $26.67.

Monte Rosa Therapeutics Trading Down 6.0%

NASDAQ GLUE opened at $9.89 on Friday. The company has a market capitalization of $843.72 million, a PE ratio of -5.62 and a beta of 1.37. Monte Rosa Therapeutics has a 1-year low of $8.94 and a 1-year high of $25.77. The firm's fifty day simple moving average is $13.32 and its 200-day simple moving average is $17.45.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.05). The firm had revenue of $8.97 million during the quarter, compared to the consensus estimate of $12.91 million. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. As a group, analysts predict that Monte Rosa Therapeutics will post -1.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Opaleye Management Inc. bought a new position in shares of Monte Rosa Therapeutics during the second quarter worth approximately $18,029,000. Squarepoint Ops LLC raised its stake in Monte Rosa Therapeutics by 123.6% in the 2nd quarter. Squarepoint Ops LLC now owns 82,953 shares of the company's stock worth $2,007,000 after purchasing an additional 45,846 shares in the last quarter. Arizona State Retirement System acquired a new stake in Monte Rosa Therapeutics in the 2nd quarter worth about $321,000. HighTower Advisors LLC acquired a new position in shares of Monte Rosa Therapeutics during the 2nd quarter worth approximately $371,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Monte Rosa Therapeutics during the 2nd quarter worth approximately $273,000. Institutional investors and hedge funds 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.

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