The Goldman Sachs Group Has Lowered Expectations for MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) had its price objective dropped by analysts at The Goldman Sachs Group from $82.00 to $73.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 83.83% from the stock's current price.

MLTX has been the topic of a number of other research reports. Needham & Company LLC increased their price target on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday. HC Wainwright reiterated a "buy" rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday. Finally, Wedbush restated an "outperform" rating and issued a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $83.20.

MoonLake Immunotherapeutics Stock Down 4.9 %

MLTX traded down $2.05 on Thursday, hitting $39.71. The company had a trading volume of 218,019 shares, compared to its average volume of 434,238. The business's fifty day simple moving average is $46.49 and its 200 day simple moving average is $48.95. MoonLake Immunotherapeutics has a 12-month low of $37.55 and a 12-month high of $58.26. The company has a market cap of $2.54 billion, a PE ratio of -30.78 and a beta of 1.28.

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

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Congress Asset Management Co. bought a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at about $3,360,000. US Bancorp DE purchased a new stake in MoonLake Immunotherapeutics during the third quarter valued at approximately $44,000. Rice Hall James & Associates LLC acquired a new stake in MoonLake Immunotherapeutics in the third quarter valued at approximately $3,805,000. Harbor Capital Advisors Inc. boosted its stake in MoonLake Immunotherapeutics by 100.2% in the third quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company's stock valued at $3,906,000 after acquiring an additional 38,779 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new position in MoonLake Immunotherapeutics in the third quarter worth $706,000. Hedge funds and other 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.