Monte Rosa Therapeutics (NASDAQ:GLUE) Hits New 12-Month High – Should You Buy?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $23.90 and last traded at $23.1810, with a volume of 8689159 shares trading hands. The stock had previously closed at $16.01.

Analyst Ratings Changes

GLUE has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective 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 Monday, December 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $22.00 price objective on shares of Monte Rosa Therapeutics in a research note on Wednesday, December 17th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.75.

Monte Rosa Therapeutics Stock Performance

The stock has a fifty day simple moving average of $15.32 and a two-hundred day simple moving average of $9.40. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 75.27 and a beta of 1.60.

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

Institutional Investors Weigh In On Monte Rosa Therapeutics

Several hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC bought a new stake in Monte Rosa Therapeutics during the 2nd quarter worth approximately $803,000. Pallas Capital Advisors LLC bought a new stake in Monte Rosa Therapeutics in the second quarter valued at approximately $59,000. Bailard Inc. acquired a new stake in Monte Rosa Therapeutics during the 2nd quarter valued at approximately $101,000. Los Angeles Capital Management LLC bought a new position in Monte Rosa Therapeutics during the 2nd quarter worth approximately $89,000. Finally, Integrated Quantitative Investments LLC acquired a new position in shares of Monte Rosa Therapeutics in the 2nd quarter worth approximately $160,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

About Monte Rosa Therapeutics

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.