Monte Rosa Therapeutics (NASDAQ:GLUE) Sets New 52-Week High – Should You Buy?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.90 and last traded at $17.67, with a volume of 207601 shares changing hands. The stock had previously closed at $16.45.

Wall Street Analyst Weigh In

Several research firms have commented on GLUE. Wells Fargo & Company upped their price target on shares of Monte Rosa Therapeutics from $10.00 to $13.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Weiss Ratings restated a “sell (d)” rating on shares of Monte Rosa Therapeutics in a research note on Tuesday, December 9th. Two 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.33.

Monte Rosa Therapeutics Stock Up 10.9%

The business’s 50-day simple moving average is $13.32 and its two-hundred day simple moving average is $8.09. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 57.00 and a beta of 1.59.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.06. The firm had revenue of $12.77 million during the quarter, compared to analyst estimates of $7.37 million. Monte Rosa Therapeutics had a return on equity of 8.28% and a net margin of 11.54%. On average, analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. purchased a new stake in Monte Rosa Therapeutics in the 3rd quarter worth $32,000. BNP Paribas Financial Markets lifted its holdings in Monte Rosa Therapeutics by 88.3% during the third quarter. BNP Paribas Financial Markets now owns 9,733 shares of the company’s stock valued at $72,000 after purchasing an additional 4,565 shares in the last quarter. Wealth Effects LLC acquired a new stake in shares of Monte Rosa Therapeutics in the third quarter valued at about $75,000. Prelude Capital Management LLC purchased a new stake in shares of Monte Rosa Therapeutics during the third quarter worth about $76,000. Finally, Brighton Jones LLC acquired a new position in shares of Monte Rosa Therapeutics during the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

About Monte Rosa Therapeutics

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.