FY2029 Earnings Estimate for GLUE Issued By Wedbush

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) – Research analysts at Wedbush issued their FY2029 earnings per share (EPS) estimates for shares of Monte Rosa Therapeutics in a research note issued to investors on Thursday, March 20th. Wedbush analyst R. Driscoll expects that the company will post earnings of ($1.33) per share for the year. Wedbush has a “Outperform” rating and a $17.00 price target on the stock. The consensus estimate for Monte Rosa Therapeutics’ current full-year earnings is ($1.49) per share.

A number of other brokerages have also commented on GLUE. Wells Fargo & Company decreased their target price on Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Friday. Lifesci Capital initiated coverage on Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price target for the company.

Monte Rosa Therapeutics Price Performance

Shares of Monte Rosa Therapeutics stock opened at $5.80 on Monday. Monte Rosa Therapeutics has a one year low of $3.21 and a one year high of $12.40. The firm has a market capitalization of $356.33 million, a price-to-earnings ratio of -3.17 and a beta of 1.50. The business has a 50-day simple moving average of $6.18 and a 200 day simple moving average of $6.78.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, March 20th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.60. The firm had revenue of $14.00 million during the quarter, compared to the consensus estimate of $43.73 million.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted 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 buying an additional 3,584 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Monte Rosa Therapeutics by 10,665.5% in the 4th quarter. GAMMA Investing LLC now owns 5,921 shares of the company’s stock worth $41,000 after buying an additional 5,866 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Monte Rosa Therapeutics in the 4th quarter worth approximately $43,000. Virtus ETF Advisers LLC purchased a new position in shares of Monte Rosa Therapeutics in the 4th quarter worth approximately $63,000. Finally, Intech Investment Management LLC purchased a new position in shares of Monte Rosa Therapeutics in the 3rd quarter worth approximately $77,000. Hedge funds and other 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.