Monte Rosa Therapeutics (NASDAQ:GLUE) Releases Earnings Results, Beats Estimates By $0.50 EPS

Monte Rosa Therapeutics (NASDAQ:GLUE) issued its earnings results on Thursday. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.50, Zacks reports.

Monte Rosa Therapeutics Stock Up 2.7 %

NASDAQ GLUE traded up $0.18 during mid-day trading on Thursday, hitting $6.88. The stock had a trading volume of 349,006 shares, compared to its average volume of 916,979. Monte Rosa Therapeutics has a 52-week low of $3.21 and a 52-week high of $12.40. The company has a market cap of $422.75 million, a price-to-earnings ratio of -3.68 and a beta of 1.50. The company has a 50 day simple moving average of $6.16 and a 200 day simple moving average of $6.77.

Wall Street Analyst Weigh In

GLUE has been the subject of a number of analyst reports. Wells Fargo & Company downgraded Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $14.00 to $11.00 in a research note on Thursday, December 19th. Lifesci Capital initiated coverage on Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $19.00 target price for the company.

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.