Monte Rosa Therapeutics price target lowered to $10 from $11 at Wells Fargo

Wells Fargo analyst Derek Archila lowered the firm’s price target on Monte Rosa Therapeutics (GLUE) to $10 from $11 and keeps an Equal Weight rating on the shares. The firm likes the progress on MRT-6160 and believes it increases the odds of future milestones and royalties. That said, Monte Rosa Therapeutics’ programs remain early and with limited catalysts in the near term, Wells expects shares to be range bound.