Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report)'s share price fell 3.6% on Monday . The company traded as low as $9.83 and last traded at $9.68. 307,193 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 811,369 shares. The stock had previously closed at $10.04.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Monte Rosa Therapeutics in a report on Wednesday, October 8th. Two research 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. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $15.33.
View Our Latest Stock Analysis on GLUE
Monte Rosa Therapeutics Trading Down 0.5%
The company has a market capitalization of $616.98 million, a price-to-earnings ratio of 27.72 and a beta of 1.54. The company's 50 day simple moving average is $5.70 and its 200-day simple moving average is $5.04.
Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced 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. The firm had revenue of $23.19 million for the quarter, compared to analyst estimates of $7.23 million. Monte Rosa Therapeutics had a net margin of 13.58% and a return on equity of 9.95%. Sell-side analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current year.
Hedge Funds Weigh In On Monte Rosa Therapeutics
Several large investors have recently added to or reduced their stakes in GLUE. Readystate Asset Management LP purchased a new stake in Monte Rosa Therapeutics in the 1st quarter valued at about $1,332,000. Invesco Ltd. grew its holdings in Monte Rosa Therapeutics by 175.1% in the first quarter. Invesco Ltd. now owns 35,346 shares of the company's stock valued at $164,000 after purchasing an additional 22,499 shares during the period. Nuveen LLC acquired a new position in Monte Rosa Therapeutics during the first quarter worth approximately $546,000. Fox Run Management L.L.C. purchased a new position in Monte Rosa Therapeutics during the first quarter worth approximately $127,000. Finally, American Century Companies Inc. increased its holdings in shares of Monte Rosa Therapeutics by 30.7% during the 1st quarter. American Century Companies Inc. now owns 100,406 shares of the company's stock worth $466,000 after buying an additional 23,556 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.
About Monte Rosa Therapeutics
(
Get Free Report)
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.
Further Reading
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