Monte Rosa Therapeutics (NASDAQ:GLUE) Shares Up 4.8% – Still a Buy?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) shares rose 4.8% during trading on Tuesday . The stock traded as high as $16.99 and last traded at $16.96. Approximately 250,970 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 872,109 shares. The stock had previously closed at $16.19.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their target price on Monte Rosa Therapeutics from $10.00 to $13.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Jefferies Financial Group reiterated a “buy” rating and set a $22.00 price objective on shares of Monte Rosa Therapeutics in a report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Monte Rosa Therapeutics in a research report on Monday, December 15th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.75.

Monte Rosa Therapeutics Trading Up 2.4%

The company has a market cap of $1.08 billion, a P/E ratio of 51.80 and a beta of 1.59. The business has a 50 day moving average price of $14.10 and a 200-day moving average price of $8.51.

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

Institutional Trading of Monte Rosa Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of GLUE. Pallas Capital Advisors LLC purchased a new position in shares of Monte Rosa Therapeutics during the 2nd quarter worth approximately $59,000. Bailard Inc. purchased a new position in shares of Monte Rosa Therapeutics in the 2nd quarter valued at approximately $101,000. Los Angeles Capital Management LLC bought a new stake in shares of Monte Rosa Therapeutics during the second quarter valued at approximately $89,000. Integrated Quantitative Investments LLC purchased a new stake in Monte Rosa Therapeutics in the second quarter worth $160,000. Finally, Hillsdale Investment Management Inc. bought a new position in Monte Rosa Therapeutics in the second quarter worth $271,000. Institutional investors own 79.96% of the company’s stock.

Monte Rosa Therapeutics Company Profile

Monte Rosa Therapeutics is a biotechnology company focused on accelerating drug discovery through the integration of single-cell genomics and artificial intelligence. Founded in 2020 and headquartered in Cambridge, Massachusetts, the company has built a proprietary platform designed to identify novel therapeutic targets and optimize lead candidates for areas of high unmet medical need. By combining cutting-edge computational methods with comprehensive cellular profiling, Monte Rosa aims to streamline the preclinical development process and uncover insights into disease biology that might otherwise remain hidden.

The company’s main business activities center on using its AI-driven discovery engine to pursue programs in immuno-oncology and neuroscience.