Lifesci Capital Initiates Coverage on Monte Rosa Therapeutics (NASDAQ:GLUE)

Stock analysts at Lifesci Capital initiated coverage on shares of Monte Rosa Therapeutics (NASDAQ:GLUE) in a report released on Wednesday,Benzinga reports. The firm set an “outperform” rating and a $19.00 price target on the stock. Lifesci Capital’s price objective indicates a potential upside of 189.90% from the company’s current price.

Separately, Wells Fargo & Company downgraded shares of Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $14.00 to $11.00 in a research report on Thursday, December 19th.

Monte Rosa Therapeutics Price Performance

Shares of GLUE traded up $0.44 during trading hours on Wednesday, reaching $6.55. 237,151 shares of the company’s stock traded hands, compared to its average volume of 680,794. Monte Rosa Therapeutics has a twelve month low of $3.21 and a twelve month high of $12.40. The business’s fifty day simple moving average is $6.18 and its two-hundred day simple moving average is $6.77. The firm has a market capitalization of $402.66 million, a price-to-earnings ratio of -3.56 and a beta of 1.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GLUE. Tower Research Capital LLC TRC grew its stake in shares of Monte Rosa Therapeutics by 192.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company’s stock worth $38,000 after purchasing an additional 3,584 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Monte Rosa Therapeutics by 10,665.5% in the fourth quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock worth $41,000 after acquiring an additional 5,866 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Monte Rosa Therapeutics during the fourth quarter valued at approximately $43,000. Virtus ETF Advisers LLC purchased a new stake in shares of Monte Rosa Therapeutics in the 4th quarter valued at approximately $63,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Monte Rosa Therapeutics in the third quarter worth $77,000. Institutional investors own 79.96% of the company’s stock.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. The company develops MRT-2359, an orally bioavailable molecular glue degrader targeting the translation termination factor protein GSPT1 for the treatment of MYC-driven tumors; MRT-6160 for the treatment of systemic and central nervous system autoimmune diseases; and MRT-8102 for the treatment of IL-1?/NLRP3 driven inflammatory diseases.