Monte Rosa Therapeutics (NASDAQ:GLUE) Shares Up 4.4% – Should You Buy?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) shares rose 4.4% during mid-day trading on Wednesday. The stock traded as high as $10.20 and last traded at $10.3090. Approximately 148,530 shares traded hands during trading, a decline of 89% from the average daily volume of 1,345,794 shares. The stock had previously closed at $9.87.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GLUE shares. JPMorgan Chase & Co. decreased their price target on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Wells Fargo & Company cut their target price on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Benchmark reaffirmed a “buy” rating on shares of Monte Rosa Therapeutics in a report on Monday. Guggenheim reiterated a “buy” rating and set a $28.00 price target on shares of Monte Rosa Therapeutics in a research report on Tuesday, August 25th. Finally, HC Wainwright started coverage on Monte Rosa Therapeutics in a report on Thursday, October 1st. They issued a “buy” rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Monte Rosa Therapeutics has an average rating of “Moderate Buy” and an average target price of $27.62.

Monte Rosa Therapeutics Stock Performance

The stock has a market capitalization of $892.37 million, a P/E ratio of -5.94 and a beta of 1.37. The business has a 50 day simple moving average of $14.14 and a 200-day simple moving average of $17.64.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). The business had revenue of $8.97 million during the quarter, compared to analyst estimates of $12.91 million. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. Equities research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Monte Rosa Therapeutics during the 2nd quarter valued at $165,603,000. Jupiter Topco LLC acquired a new stake in Monte Rosa Therapeutics during the second quarter valued at $25,965,000. Dimensional Fund Advisors LP increased its position in Monte Rosa Therapeutics by 83.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,041,372 shares of the company’s stock worth $17,125,000 after purchasing an additional 473,005 shares during the last quarter. Opaleye Management Inc. purchased a new stake in shares of Monte Rosa Therapeutics during the 2nd quarter worth about $18,029,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Monte Rosa Therapeutics during the 1st quarter valued at about $11,294,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary molecular glue degrader platform to identify small molecules that recruit targeted proteins to the cell’s natural protein-disposal machinery, potentially addressing proteins that have been difficult to treat with conventional drugs.

Monte Rosa’s pipeline is centered primarily on autoimmune and inflammatory diseases, as well as other serious conditions.