Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.16, reports. The company had revenue of $9.22 million during the quarter, compared to analyst estimates of $4.54 million.
Monte Rosa Therapeutics Stock Down 2.8 %
Shares of NASDAQ:GLUE traded down $0.27 on Friday, reaching $9.26. 793,923 shares of the company’s stock were exchanged, compared to its average volume of 5,655,992. The firm has a market capitalization of $568.29 million, a price-to-earnings ratio of -4.13 and a beta of 1.30. Monte Rosa Therapeutics has a fifty-two week low of $2.91 and a fifty-two week high of $12.40. The business’s 50-day moving average is $6.25 and its two-hundred day moving average is $5.17.
Insiders Place Their Bets
In other Monte Rosa Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 541,897 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $6.00, for a total transaction of $3,251,382.00. Following the sale, the insider now directly owns 6,257,218 shares of the company’s stock, valued at approximately $37,543,308. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 1,773,722 shares of company stock valued at $11,573,438. Company insiders own 6.50% of the company’s stock.
Hedge Funds Weigh In On Monte Rosa Therapeutics
Analyst Ratings Changes
Several research firms recently issued reports on GLUE. Wells Fargo & Company cut their price target on shares of Monte Rosa Therapeutics from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Wedbush reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Monte Rosa Therapeutics in a report on Thursday.
Read Our Latest Report on GLUE
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.
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