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

Monte Rosa Therapeutics (NASDAQ:GLUE) released its quarterly earnings data on Thursday. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.50, Zacks reports.

Monte Rosa Therapeutics Stock Up 2.7 %

Shares of GLUE stock traded up $0.18 on Thursday, reaching $6.88. The company had a trading volume of 397,916 shares, compared to its average volume of 917,139. The stock has a market capitalization of $422.93 million, a PE ratio of -3.79 and a beta of 1.50. Monte Rosa Therapeutics has a one year low of $3.21 and a one year high of $12.40. The business’s 50-day moving average is $6.16 and its 200 day moving average is $6.77.

Analyst Ratings Changes

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

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.