FY2028 Earnings Forecast for GLUE Issued By Wedbush

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) – Research analysts at Wedbush upped their FY2028 earnings per share (EPS) estimates for shares of Monte Rosa Therapeutics in a note issued to investors on Thursday, November 7th. Wedbush analyst R. Driscoll now forecasts that the company will post earnings per share of $1.18 for the year, up from their prior forecast of $1.15. Wedbush has a “Outperform” rating and a $15.00 price objective on the stock. The consensus estimate for Monte Rosa Therapeutics’ current full-year earnings is ($1.83) per share.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its earnings results on Thursday, November 7th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.16. The firm had revenue of $9.22 million during the quarter, compared to analyst estimates of $4.54 million.

Separately, Wells Fargo & Company lowered their price target on shares of Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, August 12th.

Monte Rosa Therapeutics Trading Up 8.1 %

NASDAQ:GLUE opened at $10.01 on Monday. The firm has a market capitalization of $614.34 million, a PE ratio of -5.47 and a beta of 1.30. The stock has a 50 day moving average of $6.33 and a 200-day moving average of $5.19. Monte Rosa Therapeutics has a 52 week low of $2.91 and a 52 week high of $12.40.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of GLUE. Meeder Asset Management Inc. acquired a new position in shares of Monte Rosa Therapeutics in the 2nd quarter worth approximately $38,000. SG Americas Securities LLC acquired a new position in Monte Rosa Therapeutics in the third quarter worth approximately $55,000. Intech Investment Management LLC bought a new position in shares of Monte Rosa Therapeutics in the third quarter valued at $77,000. EntryPoint Capital LLC acquired a new stake in shares of Monte Rosa Therapeutics during the 1st quarter valued at $112,000. Finally, American Century Companies Inc. boosted its stake in shares of Monte Rosa Therapeutics by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock worth $185,000 after acquiring an additional 15,562 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

Insider Transactions at Monte Rosa Therapeutics

In related news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.16, for a total transaction of $57,097.04. Following the sale, the insider now owns 6,231,902 shares of the company’s stock, valued at $38,388,516.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 1,773,722 shares of company stock valued at $11,573,438. Company insiders own 6.50% of the company’s stock.

Monte Rosa Therapeutics Company Profile

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.