MoonLake Immunotherapeutics' (MLTX) "Buy" Rating Reaffirmed at HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s stock had its "buy" rating restated by HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $100.00 target price on the stock. HC Wainwright's price objective suggests a potential upside of 115.94% from the stock's current price.

Several other research analysts have also issued reports on the stock. Wedbush reissued an "outperform" rating and set a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Needham & Company LLC reissued a "buy" rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $81.43.

MoonLake Immunotherapeutics Stock Down 3.9 %

MoonLake Immunotherapeutics stock traded down $1.86 during trading hours on Friday, reaching $46.31. 451,482 shares of the company's stock were exchanged, compared to its average volume of 467,630. The firm's 50 day simple moving average is $52.18 and its 200 day simple moving average is $48.80. MoonLake Immunotherapeutics has a twelve month low of $37.55 and a twelve month high of $64.98. The firm has a market capitalization of $2.96 billion, a PE ratio of -35.90 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.12). During the same period last year, the company posted ($0.18) earnings per share. Analysts anticipate that MoonLake Immunotherapeutics will post -1.75 EPS for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently added to or reduced their stakes in MLTX. Harbor Capital Advisors Inc. lifted its holdings in shares of MoonLake Immunotherapeutics by 2.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 79,648 shares of the company's stock valued at $4,313,000 after purchasing an additional 2,180 shares in the last quarter. Barclays PLC lifted its stake in MoonLake Immunotherapeutics by 1,269.2% during the 3rd quarter. Barclays PLC now owns 5,641 shares of the company's stock valued at $283,000 after acquiring an additional 5,229 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in MoonLake Immunotherapeutics by 55.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,325 shares of the company's stock worth $1,025,000 after acquiring an additional 7,247 shares during the last quarter. State Street Corp grew its stake in shares of MoonLake Immunotherapeutics by 96.2% in the 3rd quarter. State Street Corp now owns 87,637 shares of the company's stock worth $4,419,000 after acquiring an additional 42,980 shares in the last quarter. Finally, Parkman Healthcare Partners LLC raised its holdings in shares of MoonLake Immunotherapeutics by 1.6% in the third quarter. Parkman Healthcare Partners LLC now owns 102,813 shares of the company's stock valued at $5,184,000 after purchasing an additional 1,589 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company's stock.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It develops Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was incorporated in 2020 and is headquartered in Zug, Switzerland.