MoonLake Immunotherapeutics (NASDAQ:MLTX) Reaches New 12-Month Low - Time to Sell?

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) shares hit a new 52-week low during trading on Monday . The company traded as low as $36.64 and last traded at $36.75, with a volume of 310867 shares changing hands. The stock had previously closed at $38.04.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MLTX shares. Needham & Company LLC lifted their price target on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. The Goldman Sachs Group lowered their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, HC Wainwright reissued a "buy" rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, MoonLake Immunotherapeutics has an average rating of "Buy" and an average price target of $83.20.

MoonLake Immunotherapeutics Stock Up 4.4 %

The firm has a market capitalization of $2.52 billion, a PE ratio of -30.55 and a beta of 1.31. The stock has a 50-day simple moving average of $44.45 and a 200-day simple moving average of $48.46.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.09). Equities analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

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Institutional Trading of MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently modified their holdings of MLTX. PNC Financial Services Group Inc. boosted its holdings in MoonLake Immunotherapeutics by 3.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company's stock worth $460,000 after buying an additional 320 shares during the period. Deutsche Bank AG lifted its position in shares of MoonLake Immunotherapeutics by 59.8% during the fourth quarter. Deutsche Bank AG now owns 903 shares of the company's stock worth $49,000 after acquiring an additional 338 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of MoonLake Immunotherapeutics by 1.9% in the third quarter. GSA Capital Partners LLP now owns 22,127 shares of the company's stock worth $1,116,000 after acquiring an additional 403 shares during the period. Geode Capital Management LLC grew its position in shares of MoonLake Immunotherapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 58,950 shares of the company's stock valued at $3,192,000 after purchasing an additional 540 shares in the last quarter. Finally, DnB Asset Management AS raised its stake in shares of MoonLake Immunotherapeutics by 11.3% during the 4th quarter. DnB Asset Management AS now owns 8,356 shares of the company's stock valued at $452,000 after purchasing an additional 847 shares during the period. Institutional investors own 93.85% of the company's stock.

About MoonLake Immunotherapeutics

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.