Royal Bank of Canada Begins Coverage on MoonLake Immunotherapeutics (NASDAQ:MLTX)

Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) in a research report released on Tuesday, MarketBeat reports. The brokerage issued an outperform rating and a $67.00 price objective on the stock.

MLTX has been the topic of a number of other reports. HC Wainwright restated a "buy" rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. The Goldman Sachs Group decreased 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, Needham & Company LLC upped their target price on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $80.50.

MoonLake Immunotherapeutics Stock Down 1.4 %

MLTX traded down $0.57 during trading on Tuesday, reaching $40.12. 550,312 shares of the company were exchanged, compared to its average volume of 336,584. The company's 50-day moving average is $42.63 and its two-hundred day moving average is $48.01. The company has a market cap of $2.57 billion, a price-to-earnings ratio of -31.10 and a beta of 1.31. MoonLake Immunotherapeutics has a 12-month low of $36.52 and a 12-month high of $58.26.

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

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors have recently bought and sold shares of MLTX. FMR LLC boosted its holdings in MoonLake Immunotherapeutics by 28.1% during the 4th quarter. FMR LLC now owns 6,341,391 shares of the company's stock valued at $343,386,000 after acquiring an additional 1,391,167 shares during the period. Paradigm Biocapital Advisors LP boosted its holdings in MoonLake Immunotherapeutics by 90.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company's stock valued at $95,965,000 after acquiring an additional 840,731 shares during the period. Polar Capital Holdings Plc boosted its holdings in MoonLake Immunotherapeutics by 120.0% during the 4th quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company's stock valued at $59,565,000 after acquiring an additional 600,000 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in MoonLake Immunotherapeutics by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company's stock valued at $181,059,000 after acquiring an additional 363,394 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in MoonLake Immunotherapeutics by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company's stock valued at $69,315,000 after acquiring an additional 149,724 shares during the period. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

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.