Monte Rosa Therapeutics (NASDAQ:GLUE) Posts Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Monte Rosa Therapeutics (NASDAQ:GLUE) released its earnings results on Thursday. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.16, reports. The business had revenue of $9.22 million during the quarter, compared to the consensus estimate of $4.54 million.

Monte Rosa Therapeutics Price Performance

GLUE stock opened at $9.26 on Friday. The firm has a market capitalization of $568.29 million, a P/E ratio of -4.13 and a beta of 1.30. Monte Rosa Therapeutics has a 52-week low of $2.91 and a 52-week high of $12.40. The company’s 50 day simple moving average is $6.25 and its 200-day simple moving average is $5.16.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 9,269 shares of Monte Rosa Therapeutics stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.16, for a total transaction of $57,097.04. Following the transaction, the insider now directly owns 6,231,902 shares in the company, valued at approximately $38,388,516.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 1,773,722 shares of company stock valued at $11,573,438. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Monte Rosa Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. acquired a new position in shares of Monte Rosa Therapeutics in the 2nd quarter valued at about $38,000. SG Americas Securities LLC acquired a new position in Monte Rosa Therapeutics in the 3rd quarter valued at approximately $55,000. Intech Investment Management LLC purchased a new stake in Monte Rosa Therapeutics in the 3rd quarter worth approximately $77,000. EntryPoint Capital LLC acquired a new stake in shares of Monte Rosa Therapeutics during the 1st quarter valued at $112,000. Finally, American Century Companies Inc. grew its holdings in shares of Monte Rosa Therapeutics by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 49,410 shares of the company’s stock valued at $185,000 after acquiring an additional 15,562 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wedbush restated an “outperform” rating and issued a $15.00 price target on shares of Monte Rosa Therapeutics in a research report on Thursday. 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 report on Monday, August 12th.

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.