Monte Rosa Therapeutics (NASDAQ:GLUE) Shares Down 6% – Should You Sell?

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) shares fell 6% on Wednesday . The stock traded as low as $17.88 and last traded at $17.54. 171,378 shares were traded during mid-day trading, a decline of 80% from the average session volume of 849,496 shares. The stock had previously closed at $18.66.

Wall Street Analyst Weigh In

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

Monte Rosa Therapeutics Trading Down 6.5%

The stock has a fifty day moving average of $13.54 and a 200-day moving average of $8.19. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 54.62 and a beta of 1.60.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.06. The business 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%. As a group, equities research analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLUE. Pallas Capital Advisors LLC purchased a new stake in shares of Monte Rosa Therapeutics in the second quarter worth approximately $59,000. Bailard Inc. acquired a new position in Monte Rosa Therapeutics in the 2nd quarter valued at approximately $101,000. Integrated Quantitative Investments LLC acquired a new position in Monte Rosa Therapeutics in the 2nd quarter valued at approximately $160,000. Los Angeles Capital Management LLC purchased a new stake in Monte Rosa Therapeutics in the 2nd quarter worth approximately $89,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in Monte Rosa Therapeutics in the 2nd quarter worth approximately $271,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Monte Rosa Therapeutics Company Profile

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.