Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report)'s share price was up 7.9% on Thursday . The stock traded as high as $8.21 and last traded at $8.32. Approximately 252,361 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 783,407 shares. The stock had previously closed at $7.71.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a "sell (d)" rating on shares of Monte Rosa Therapeutics in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $15.33.
Read Our Latest Stock Report on Monte Rosa Therapeutics
Monte Rosa Therapeutics Trading Up 9.7%
The firm has a market capitalization of $522.49 million, a PE ratio of 23.50 and a beta of 1.54. The firm has a 50 day simple moving average of $5.60 and a 200 day simple moving average of $5.01.
Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.16. The firm had revenue of $23.19 million during the quarter, compared to analyst estimates of $7.23 million. Monte Rosa Therapeutics had a return on equity of 9.95% and a net margin of 13.58%. Research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its position in Monte Rosa Therapeutics by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 119,836 shares of the company's stock worth $540,000 after acquiring an additional 2,529 shares in the last quarter. Lazard Asset Management LLC grew its position in Monte Rosa Therapeutics by 42.9% in the second quarter. Lazard Asset Management LLC now owns 10,857 shares of the company's stock worth $48,000 after acquiring an additional 3,262 shares in the last quarter. Intech Investment Management LLC grew its position in Monte Rosa Therapeutics by 35.4% in the second quarter. Intech Investment Management LLC now owns 29,870 shares of the company's stock worth $135,000 after acquiring an additional 7,808 shares in the last quarter. Brighton Jones LLC purchased a new position in Monte Rosa Therapeutics in the second quarter worth about $48,000. Finally, Prudential Financial Inc. bought a new stake in Monte Rosa Therapeutics in the second quarter worth about $54,000. Hedge funds and other institutional investors own 79.96% of the company's stock.
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Monte Rosa Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Monte Rosa Therapeutics wasn't on the list.
While Monte Rosa Therapeutics currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
