Monte Rosa Therapeutics (NASDAQ:GLUE) Hits New 52-Week High – Still a Buy?

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 $16.71 and last traded at $16.8730, with a volume of 931732 shares. The stock had previously closed at $15.41.

Wall Street Analysts Forecast Growth

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

Monte Rosa Therapeutics Price Performance

The business has a 50 day moving average of $11.99 and a 200 day moving average of $7.41. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 53.94 and a beta of 1.60.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.06. The company had revenue of $12.77 million during 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, sell-side analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

Institutional Trading of Monte Rosa Therapeutics

A number of large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in shares of Monte Rosa Therapeutics in the third quarter valued at approximately $32,000. Brighton Jones LLC bought a new stake in Monte Rosa Therapeutics in the 2nd quarter valued at $48,000. Lazard Asset Management LLC boosted its stake in Monte Rosa Therapeutics by 42.9% in the 2nd quarter. Lazard Asset Management LLC now owns 10,857 shares of the company’s stock worth $48,000 after purchasing an additional 3,262 shares during the period. Prudential Financial Inc. bought a new position in Monte Rosa Therapeutics during the 2nd quarter worth about $54,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Monte Rosa Therapeutics in the 2nd quarter valued at about $59,000. Institutional investors own 79.96% of the company’s stock.

About Monte Rosa Therapeutics

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.