Monte Rosa Therapeutics (NASDAQ:GLUE) Hits New 52-Week High – Here’s Why

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) hit a new 52-week high on Monday . The company traded as high as $15.40 and last traded at $15.2110, with a volume of 168397 shares. The stock had previously closed at $14.22.

Analyst Ratings Changes

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

Monte Rosa Therapeutics Price Performance

The firm has a fifty day simple moving average of $10.64 and a 200-day simple moving average of $6.85. The firm has a market cap of $1.04 billion, a P/E ratio of 50.06 and a beta of 1.62.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BVF Inc. IL raised its holdings in shares of Monte Rosa Therapeutics by 104.7% in the 1st quarter. BVF Inc. IL now owns 5,660,132 shares of the company’s stock worth $26,263,000 after acquiring an additional 2,895,661 shares during the last quarter. AQR Capital Management LLC raised its position in Monte Rosa Therapeutics by 459.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company’s stock valued at $5,791,000 after buying an additional 1,054,406 shares during the last quarter. Vestal Point Capital LP bought a new position in Monte Rosa Therapeutics during the 3rd quarter valued at $5,928,000. Marshall Wace LLP lifted its stake in Monte Rosa Therapeutics by 102.4% during the 3rd quarter. Marshall Wace LLP now owns 902,834 shares of the company’s stock valued at $6,690,000 after acquiring an additional 456,754 shares in the last quarter. Finally, Parkwood LLC boosted its holdings in Monte Rosa Therapeutics by 119.2% during the 1st quarter. Parkwood LLC now owns 708,000 shares of the company’s stock worth $3,285,000 after acquiring an additional 385,000 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.