Monte Rosa Therapeutics (NASDAQ:GLUE) Hits New 12-Month High – Here’s Why

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.40 and last traded at $14.32, with a volume of 1689623 shares traded. The stock had previously closed at $14.06.

Analyst Ratings Changes

GLUE has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Monte Rosa Therapeutics from $10.00 to $13.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Monte Rosa Therapeutics in a report on Friday, October 31st. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.33.

Monte Rosa Therapeutics Stock Performance

The stock’s fifty day simple moving average is $8.81 and its two-hundred day simple moving average is $6.16. The company has a market capitalization of $929.46 million, a price-to-earnings ratio of 44.57 and a beta of 1.62.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.06. The company had revenue of $12.77 million for the quarter, compared to analysts’ expectations of $7.37 million. Monte Rosa Therapeutics had a return on equity of 8.28% and a net margin of 11.54%. On average, equities analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

Institutional Trading of Monte Rosa Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLUE. BVF Inc. IL lifted its holdings in shares of Monte Rosa Therapeutics by 104.7% during the first quarter. BVF Inc. IL now owns 5,660,132 shares of the company’s stock valued at $26,263,000 after acquiring an additional 2,895,661 shares during the period. AQR Capital Management LLC raised its position in shares of Monte Rosa Therapeutics by 459.4% during the second quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company’s stock worth $5,791,000 after acquiring an additional 1,054,406 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Monte Rosa Therapeutics by 12.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,124,160 shares of the company’s stock valued at $5,071,000 after purchasing an additional 120,098 shares during the last quarter. Parkwood LLC raised its position in shares of Monte Rosa Therapeutics by 119.2% during the 1st quarter. Parkwood LLC now owns 708,000 shares of the company’s stock valued at $3,285,000 after acquiring an additional 385,000 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Monte Rosa Therapeutics by 20.0% in the second quarter. Marshall Wace LLP now owns 446,080 shares of the company’s stock valued at $2,012,000 after buying an additional 74,342 shares during the period. Institutional investors own 79.96% 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.