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Credit Suisse Reiterates Monte Rosa Therapeutics (GLUE) Neutral Recommendation

Fintel reports that on August 11, 2023, Credit Suisse reiterated coverage of Monte Rosa Therapeutics (NASDAQ:GLUE) with a Neutral recommendation.

Analyst Price Forecast Suggests 199.22% Upside

As of August 2, 2023, the average one-year price target for Monte Rosa Therapeutics is 20.02. The forecasts range from a low of 11.11 to a high of $27.30. The average price target represents an increase of 199.22% from its latest reported closing price of 6.69.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Monte Rosa Therapeutics is 0MM. The projected annual non-GAAP EPS is -2.62.

What is the Fund Sentiment?

There are 217 funds or institutions reporting positions in Monte Rosa Therapeutics. This is an increase of 12 owner(s) or 5.85% in the last quarter. Average portfolio weight of all funds dedicated to GLUE is 0.07%, a decrease of 3.72%. Total shares owned by institutions decreased in the last three months by 4.57% to 40,472K shares. The put/call ratio of GLUE is 0.00, indicating a bullish outlook.

What are Other Shareholders Doing?

GLUE / Monte Rosa Therapeutics Inc Shares Held by Institutions

NEA Management Company holds 7,692K shares representing 15.60% ownership of the company. No change in the last quarter.

Avoro Capital Advisors holds 4,325K shares representing 8.77% ownership of the company. No change in the last quarter.

Price T Rowe Associates holds 3,693K shares representing 7.49% ownership of the company. In it’s prior filing, the firm reported owning 3,683K shares, representing an increase of 0.27%. The firm decreased its portfolio allocation in GLUE by 4.48% over the last quarter.

Cormorant Asset Management holds 2,894K shares representing 5.87% ownership of the company. No change in the last quarter.

PRNHX – T. Rowe Price New Horizons Fund holds 1,740K shares representing 3.53% ownership of the company. In it’s prior filing, the firm reported owning 1,687K shares, representing an increase of 3.04%. The firm decreased its portfolio allocation in GLUE by 0.23% over the last quarter.

Monte Rosa Therapeutics Background Information
(This description is provided by the company.)

Monte Rosa Therapeutics is a biotechnology company discovering and developing molecular glues to degrade disease-causing proteins. The company has created a platform to rationally design small molecules that reprogram ubiquitin ligases to eliminate disease drivers previously deemed undruggable. The company’s drug discovery platform combines diverse and proprietary chemical libraries of small molecule protein degraders with in-house proteomics, structural biology, machine learning-based target selection and computational chemistry capabilities to predict and obtain protein degradation profiles. Monte Rosa was launched from founding investor Versant Ventures’ Ridgeline Discovery Engine and is headquartered in Boston, Mass., with research operations in both Boston and Basel, Switzerland.

Additional reading:

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Summarize this content to 100 words

Fintel reports that on August 11, 2023, Credit Suisse reiterated coverage of Monte Rosa Therapeutics (NASDAQ:GLUE) with a Neutral recommendation. Analyst Price Forecast Suggests 199.22% Upside As of August 2, 2023, the average one-year price target for Monte Rosa Therapeutics is 20.02. The forecasts range from a low of 11.11 to a high of $27.30. The average price target represents an increase of 199.22% from its latest reported closing price of 6.69.

See our leaderboard of companies with the largest price target upside. The projected annual revenue for Monte Rosa Therapeutics is 0MM. The projected annual non-GAAP EPS is -2.62. What is the Fund Sentiment? There are 217 funds or institutions reporting positions in Monte Rosa Therapeutics. This is an increase of 12 owner(s) or 5.85% in the last quarter. Average portfolio weight of all funds dedicated to GLUE is 0.07%, a decrease of 3.72%. Total shares owned by institutions decreased in the last three months by 4.57% to 40,472K shares. The put/call ratio of GLUE is 0.00, indicating a bullish outlook. What are Other Shareholders Doing? NEA Management Company holds 7,692K shares representing 15.60% ownership of the company. No change in the last quarter. Avoro Capital Advisors holds 4,325K shares representing 8.77% ownership of the company. No change in the last quarter.

Price T Rowe Associates holds 3,693K shares representing 7.49% ownership of the company. In it’s prior filing, the firm reported owning 3,683K shares, representing an increase of 0.27%. The firm decreased its portfolio allocation in GLUE by 4.48% over the last quarter. Cormorant Asset Management holds 2,894K shares representing 5.87% ownership of the company. No change in the last quarter. PRNHX – T. Rowe Price New Horizons Fund holds 1,740K shares representing 3.53% ownership of the company. In it’s prior filing, the firm reported owning 1,687K shares, representing an increase of 3.04%. The firm decreased its portfolio allocation in GLUE by 0.23% over the last quarter. Monte Rosa Therapeutics Background Information(This description is provided by the company.) Monte Rosa Therapeutics is a biotechnology company discovering and developing molecular glues to degrade disease-causing proteins. The company has created a platform to rationally design small molecules that reprogram ubiquitin ligases to eliminate disease drivers previously deemed undruggable. The company’s drug discovery platform combines diverse and proprietary chemical libraries of small molecule protein degraders with in-house proteomics, structural biology, machine learning-based target selection and computational chemistry capabilities to predict and obtain protein degradation profiles. Monte Rosa was launched from founding investor Versant Ventures’ Ridgeline Discovery Engine and is headquartered in Boston, Mass., with research operations in both Boston and Basel, Switzerland.

Additional reading: This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/credit-suisse-reiterates-monte-rosa-therapeutics-glue-neutral-recommendation-0 Credit Suisse Reiterates Monte Rosa Therapeutics (GLUE) Neutral Recommendation

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