Monte Rosa Therapeutics (NASDAQ:GLUE) Trading Up 7.3% - Still a Buy?

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report) shot up 7.3% during mid-day trading on Wednesday . The company traded as high as $5.75 and last traded at $5.61. 777,558 shares changed hands during trading, a decline of 29% from the average session volume of 1,088,751 shares. The stock had previously closed at $5.23.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Monte Rosa Therapeutics from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd.

Monte Rosa Therapeutics Trading Up 0.7%

The firm's 50-day moving average is $4.66 and its 200 day moving average is $5.26. The firm has a market capitalization of $365.37 million, a price-to-earnings ratio of 74.26 and a beta of 1.41.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.81. The firm had revenue of $84.93 million for the quarter, compared to the consensus estimate of $13.57 million. Monte Rosa Therapeutics had a net margin of 3.86% and a return on equity of 2.65%. Analysts predict that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GLUE. Tower Research Capital LLC TRC lifted its holdings in Monte Rosa Therapeutics by 192.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,443 shares of the company's stock valued at $38,000 after purchasing an additional 3,584 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Monte Rosa Therapeutics in the fourth quarter worth about $43,000. Pallas Capital Advisors LLC purchased a new stake in shares of Monte Rosa Therapeutics in the second quarter worth about $59,000. Virtus ETF Advisers LLC purchased a new stake in shares of Monte Rosa Therapeutics in the fourth quarter worth about $63,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Monte Rosa Therapeutics in the first quarter worth about $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.