Monte Rosa Therapeutics (NASDAQ:GLUE) Shares Gap Down – Here’s Why

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $14.06, but opened at $13.53. Monte Rosa Therapeutics shares last traded at $13.7710, with a volume of 424,753 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Monte Rosa Therapeutics in a research note on Friday, October 31st. Wells Fargo & Company raised their target price on Monte Rosa Therapeutics from $10.00 to $13.00 and gave the company an “equal weight” rating in a report on Friday. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $16.33.

Monte Rosa Therapeutics Stock Up 2.0%

The company has a 50-day moving average price of $8.62 and a 200-day moving average price of $6.09. The company has a market capitalization of $885.32 million, a price-to-earnings ratio of 44.80 and a beta of 1.62.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its 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. Monte Rosa Therapeutics had a return on equity of 8.20% and a net margin of 11.54%.The firm had revenue of $12.77 million during the quarter, compared to the consensus estimate of $7.37 million. Equities analysts expect that Monte Rosa Therapeutics, Inc. will post -1.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several large investors have recently bought and sold shares of GLUE. BVF Inc. IL increased its stake in Monte Rosa Therapeutics by 104.7% during the first quarter. BVF Inc. IL now owns 5,660,132 shares of the company’s stock valued at $26,263,000 after acquiring an additional 2,895,661 shares during the period. AQR Capital Management LLC grew its holdings in shares of Monte Rosa Therapeutics by 459.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,283,942 shares of the company’s stock worth $5,791,000 after purchasing an additional 1,054,406 shares in the last quarter. Parkwood LLC increased its position in shares of Monte Rosa Therapeutics by 119.2% during the first quarter. Parkwood LLC now owns 708,000 shares of the company’s stock valued at $3,285,000 after purchasing an additional 385,000 shares during the period. American Century Companies Inc. raised its stake in shares of Monte Rosa Therapeutics by 301.4% in the second quarter. American Century Companies Inc. now owns 403,045 shares of the company’s stock valued at $1,818,000 after purchasing an additional 302,639 shares in the last quarter. Finally, Readystate Asset Management LP bought a new position in Monte Rosa Therapeutics in the first quarter worth $1,332,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.