Monte Rosa Therapeutics (NASDAQ:GLUE) Shares Up 11.7% - Should You Buy?

Key Points

• Monte Rosa Therapeutics shares surged by 11.7%, closing at $10.45 after trading as high as $10.27, despite a significant decline in trading volume.
• The company has a mixed analyst outlook with two "Buy," one "Hold," and one "Sell" rating, while the average price target stands at $15.33.
• Monte Rosa reported earnings that surpassed estimates, with a net revenue of $23.19 million, much higher than the expected $7.23 million, indicating strong market performance.

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report)'s share price rose 11.7% during trading on Thursday . The company traded as high as $10.27 and last traded at $10.45. Approximately 161,253 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 816,880 shares. The stock had previously closed at $9.35.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Monte Rosa Therapeutics in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $15.33.

Monte Rosa Therapeutics Price Performance

The firm has a market capitalization of $642.92 million, a price-to-earnings ratio of 28.89 and a beta of 1.54. The firm's fifty day moving average is $6.61 and its 200 day moving average is $5.35.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $23.19 million during the quarter, compared to the consensus estimate of $7.23 million. Equities research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Monte Rosa Therapeutics by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 119,836 shares of the company's stock valued at $540,000 after buying an additional 2,529 shares during the last quarter. Lazard Asset Management LLC raised its position in Monte Rosa Therapeutics by 42.9% during the second quarter. Lazard Asset Management LLC now owns 10,857 shares of the company's stock valued at $48,000 after acquiring an additional 3,262 shares in the last quarter. Intech Investment Management LLC raised its position in Monte Rosa Therapeutics by 35.4% during the second quarter. Intech Investment Management LLC now owns 29,870 shares of the company's stock valued at $135,000 after acquiring an additional 7,808 shares in the last quarter. Brighton Jones LLC acquired a new position in shares of Monte Rosa Therapeutics during the 2nd quarter worth $48,000. Finally, Prudential Financial Inc. acquired a new position in shares of Monte Rosa Therapeutics during the 2nd quarter worth $54,000. Hedge funds and other institutional investors 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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