Monte Rosa Therapeutics (NASDAQ:GLUE) Trading Up 6.3% – Should You Buy?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)’s stock price rose 6.3% during trading on Tuesday . The company traded as high as $8.99 and last traded at $8.99. Approximately 392,766 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 757,043 shares. The stock had previously closed at $8.46.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $15.00 target price on shares of Monte Rosa Therapeutics in a research report on Thursday, November 7th. Wells Fargo & Company cut their target price on Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th.

Monte Rosa Therapeutics Price Performance

The company’s fifty day simple moving average is $6.81 and its 200-day simple moving average is $5.39. The firm has a market capitalization of $529.00 million, a PE ratio of -4.62 and a beta of 1.30.

Monte Rosa Therapeutics (NASDAQ:GLUE) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.16. The business had revenue of $9.22 million during the quarter, compared to analyst estimates of $4.54 million. As a group, equities research analysts anticipate that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Monte Rosa Therapeutics

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 541,897 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $6.00, for a total transaction of $3,251,382.00. Following the sale, the insider now owns 6,257,218 shares in the company, valued at approximately $37,543,308. The trade was a 7.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 1,773,722 shares of company stock worth $11,573,438. 6.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GLUE. Meeder Asset Management Inc. acquired a new stake in Monte Rosa Therapeutics during the 2nd quarter worth about $38,000. SG Americas Securities LLC acquired a new position in shares of Monte Rosa Therapeutics in the third quarter worth about $55,000. Intech Investment Management LLC acquired a new position in Monte Rosa Therapeutics in the 3rd quarter worth about $77,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Monte Rosa Therapeutics by 54.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,100 shares of the company’s stock worth $128,000 after buying an additional 8,500 shares during the period. Finally, MetLife Investment Management LLC purchased a new stake in Monte Rosa Therapeutics in the 3rd quarter worth $132,000. 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.