Monte Rosa Therapeutics (NASDAQ:GLUE) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Monte Rosa Therapeutics (NASDAQ:GLUE) experienced a surge in trading volume with approximately 3.26 million shares traded, indicating a 308% increase from the previous session.
• The company reported a quarterly earnings per share of ($0.15), outperforming analysts' expectations and generating $23.19 million in revenue, significantly higher than the anticipated $7.23 million.
• Analyst ratings for the stock are mixed, with an average rating of "Hold" and a price target of $15.33, while Weiss Ratings has restated a "sell" rating.

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 3,262,602 shares were traded during mid-day trading, an increase of 308% from the previous session's volume of 799,467 shares.The stock last traded at $9.03 and had previously closed at $8.46.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Monte Rosa Therapeutics in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $15.33.

Monte Rosa Therapeutics Trading Up 5.5%

The stock has a market capitalization of $551.21 million, a PE ratio of 24.77 and a beta of 1.54. The firm's 50-day simple moving average is $5.60 and its two-hundred day simple moving average is $5.01.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.16. Monte Rosa Therapeutics had a net margin of 13.58% and a return on equity of 9.95%. The firm had revenue of $23.19 million for the quarter, compared to analysts' expectations of $7.23 million. As a group, research analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

Institutional investors have recently modified their holdings of the stock. Brighton Jones LLC acquired a new stake in shares of Monte Rosa Therapeutics during the 2nd quarter valued at $48,000. Lazard Asset Management LLC boosted its stake in shares of Monte Rosa Therapeutics by 42.9% during the 2nd quarter. Lazard Asset Management LLC now owns 10,857 shares of the company's stock valued at $48,000 after buying an additional 3,262 shares during the period. Prudential Financial Inc. acquired a new stake in shares of Monte Rosa Therapeutics during the 2nd quarter valued at $54,000. Pallas Capital Advisors LLC acquired a new stake in shares of Monte Rosa Therapeutics during the 2nd quarter valued at $59,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Monte Rosa Therapeutics during the 1st quarter valued at $76,000. Institutional investors and hedge funds 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.

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