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

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) reached a new 52-week low during trading on Thursday. The company traded as low as $9.56 and last traded at $9.7180, with a volume of 69,525 shares trading hands. The stock had previously closed at $10.31.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GLUE shares. JPMorgan Chase & Co. reduced their price objective on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Monte Rosa Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 7th. TD Cowen raised shares of Monte Rosa Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. Wells Fargo & Company reduced their price target on shares of Monte Rosa Therapeutics from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, November 6th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $27.00 price target on shares of Monte Rosa Therapeutics in a report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Monte Rosa Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $26.44.

Monte Rosa Therapeutics Price Performance

The firm has a market capitalization of $811.43 million, a PE ratio of -6.81 and a beta of 1.40. The business’s 50 day moving average is $11.50 and its two-hundred day moving average is $16.90.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.24. The firm had revenue of $54.37 million for the quarter, compared to analyst estimates of $33.87 million. Monte Rosa Therapeutics had a negative net margin of 186.24% and a negative return on equity of 30.14%. Analysts expect that Monte Rosa Therapeutics, Inc. will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Monte Rosa Therapeutics in the second quarter valued at $165,603,000. Jupiter Topco LLC purchased a new position in shares of Monte Rosa Therapeutics in the 2nd quarter worth about $25,965,000. Dimensional Fund Advisors LP increased its position in shares of Monte Rosa Therapeutics by 83.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,041,372 shares of the company’s stock valued at $17,125,000 after purchasing an additional 473,005 shares during the last quarter. Opaleye Management Inc. bought a new position in shares of Monte Rosa Therapeutics during the 2nd quarter valued at about $18,029,000. Finally, Janus Henderson Group PLC bought a new position 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 hedge funds and other institutional investors.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics is a clinical-stage biotechnology company developing molecular glue degraders, medicines designed to direct disease-associated proteins for disposal by the cell. Its discovery platform combines computational and experimental methods to identify and develop these potential treatments. The company’s research has included programs for cancer and immune-mediated diseases. Its pipeline includes MRT-6160, a VAV1 degrader being developed for autoimmune and inflammatory conditions, and MRT-8102, an investigational degrader targeting the NLRP3 inflammasome pathway.