Monte Rosa Therapeutics (NASDAQ:GLUE) Reaches New 12-Month Low - Here's Why

Key Points

• Monte Rosa Therapeutics shares hit a new 52-week low, trading as low as $9.56 and last at $9.72, down from the prior close of $10.31.
• Analyst sentiment remained mostly positive despite the decline: MarketBeat reported a “Moderate Buy” consensus and a consensus price target of $26.44, while ratings ranged from Strong Buy to Sell.
• The company beat quarterly estimates, reporting earnings per share of $0.03 versus the expected loss of $0.21 and revenue of $54.37 million versus the $33.87 million consensus.

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report)'s share price hit a new 52-week low on Thursday. The company traded as low as $9.56 and last traded at $9.7180, with a volume of 69,525 shares traded. The stock had previously closed at $10.31.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GLUE shares. Benchmark reissued a "buy" rating on shares of Monte Rosa Therapeutics in a research report on Monday, October 5th. UBS Group started coverage on Monte Rosa Therapeutics in a research report on Sunday, October 11th. They set a "buy" rating and a $19.00 target price on the stock. Wedbush reaffirmed an "outperform" rating and set a $27.00 target price on shares of Monte Rosa Therapeutics in a research note on Wednesday, September 9th. Raymond James Financial set a $25.00 target price on Monte Rosa Therapeutics in a report on Monday, October 5th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Monte Rosa Therapeutics in a report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.44.

Monte Rosa Therapeutics Stock Performance

The company has a 50 day moving average price of $11.50 and a 200 day moving average price of $16.90. The company has a market capitalization of $811.43 million, a price-to-earnings ratio of -6.81 and a beta of 1.40.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.21) by $0.24. The business had revenue of $54.37 million for the quarter, compared to the consensus estimate of $33.87 million. Monte Rosa Therapeutics had a negative return on equity of 30.14% and a negative net margin of 186.24%. Research analysts forecast that Monte Rosa Therapeutics, Inc. will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Large investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its holdings in Monte Rosa Therapeutics by 842.3% during the 3rd quarter. Sterling Capital Management LLC now owns 2,450 shares of the company's stock worth $29,000 after purchasing an additional 2,190 shares in the last quarter. Allworth Financial LP bought a new stake in Monte Rosa Therapeutics during the second quarter worth $30,000. State of Alaska Department of Revenue bought a new stake in Monte Rosa Therapeutics during the third quarter worth $48,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Monte Rosa Therapeutics during the third quarter worth $52,000. Finally, E Fund Management Co. Ltd. purchased a new stake in Monte Rosa Therapeutics in the 2nd quarter valued at $200,000. Institutional investors own 79.96% of the company's stock.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics is a clinical-stage biotechnology company developing molecular glue degraders, medicines designed to direct disease-associated proteins for disposal by the cell. Its discovery platform combines computational and experimental methods to identify and develop these potential treatments. The company's research has included programs for cancer and immune-mediated diseases. Its pipeline includes MRT-6160, a VAV1 degrader being developed for autoimmune and inflammatory conditions, and MRT-8102, an investigational degrader targeting the NLRP3 inflammasome pathway.

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