Monte Rosa Therapeutics (NASDAQ:GLUE) Trading Up 10.8% Following Analyst Upgrade

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report) shares rose 10.8% on Monday after Wells Fargo & Company raised their price target on the stock from $10.00 to $13.00. Wells Fargo & Company currently has an equal weight rating on the stock. Monte Rosa Therapeutics traded as high as $13.59 and last traded at $13.64. Approximately 448,769 shares changed hands during trading, a decline of 46% from the average daily volume of 836,201 shares. The stock had previously closed at $12.31.Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Monte Rosa Therapeutics in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Monte Rosa Therapeutics presently has an average rating of "Hold" and an average price target of $16.33.Check Out Our Latest Research Report on GLUEHedge Funds Weigh In On Monte Rosa TherapeuticsSeveral hedge funds and other institutional investors have recently modified their holdings of GLUE. Pallas Capital Advisors LLC purchased a new position in shares of Monte Rosa Therapeutics during the second quarter worth approximately $59,000. American Century Companies Inc. grew its holdings in Monte Rosa Therapeutics by 30.7% during the first quarter. American Century Companies Inc. now owns 100,406 shares of the company's stock worth $466,000 after acquiring an additional 23,556 shares during the period. CWM LLC grew its stake in shares of Monte Rosa Therapeutics by 664.3% during the 2nd quarter. CWM LLC now owns 28,326 shares of the company's stock worth $128,000 after purchasing an additional 24,620 shares during the period. Nuveen LLC purchased a new position in Monte Rosa Therapeutics during the first quarter worth approximately $546,000. Finally, Brighton Jones LLC acquired a new position in Monte Rosa Therapeutics during the second quarter worth $48,000. 79.96% of the stock is owned by institutional investors. Monte Rosa Therapeutics Stock PerformanceThe stock has a market cap of $890.52 million, a PE ratio of 42.67 and a beta of 1.61. The stock's 50-day moving average is $8.43 and its two-hundred day moving average is $6.03. Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.39) by $0.06. The business had revenue of $12.77 million for the quarter, compared to analyst estimates of $7.37 million. Monte Rosa Therapeutics had a net margin of 11.54% and a return on equity of 8.20%. Analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year. Monte Rosa Therapeutics Company Profile (Get Free Report)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.Featured StoriesFive stocks we like better than Monte Rosa TherapeuticsPros And Cons Of Monthly Dividend StocksAn Earnings Win With a Stock Slump: What's Happening With D-Wave?Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?3 Stocks Showing Relative Strength as Markets Pull BackWhat is a Dividend King? 5 Defensive Consumer Plays to Watch If Markets Keep SlippingThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Monte Rosa Therapeutics Right Now?Before you consider Monte Rosa Therapeutics, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Monte Rosa Therapeutics wasn't on the list.While Monte Rosa Therapeutics currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here