MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $36.34 and last traded at $36.35, with a volume of 503163 shares traded. The stock had previously closed at $39.07.
Analysts Set New Price Targets
MLTX has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada initiated coverage on MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $67.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Finally, Needham & Company LLC boosted their price target on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MoonLake Immunotherapeutics presently has a consensus rating of "Buy" and a consensus price target of $80.50.
Read Our Latest Report on MoonLake Immunotherapeutics
MoonLake Immunotherapeutics Stock Performance
The firm has a market capitalization of $2.38 billion, a P/E ratio of -28.84 and a beta of 1.32. The company has a 50-day simple moving average of $41.36 and a two-hundred day simple moving average of $47.35.
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). As a group, research analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.
Hedge Funds Weigh In On MoonLake Immunotherapeutics
Several institutional investors and hedge funds have recently modified their holdings of MLTX. PNC Financial Services Group Inc. increased its position in shares of MoonLake Immunotherapeutics by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company's stock valued at $460,000 after acquiring an additional 320 shares in the last quarter. Deutsche Bank AG boosted its stake in MoonLake Immunotherapeutics by 59.8% during the 4th quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after purchasing an additional 338 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of MoonLake Immunotherapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 58,950 shares of the company's stock worth $3,192,000 after purchasing an additional 540 shares in the last quarter. DnB Asset Management AS raised its position in MoonLake Immunotherapeutics by 11.3% in the 4th quarter. DnB Asset Management AS now owns 8,356 shares of the company's stock worth $452,000 after buying an additional 847 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in MoonLake Immunotherapeutics by 18.4% in the 4th quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company's stock worth $354,000 after buying an additional 1,013 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors.
About MoonLake Immunotherapeutics
(
Get Free Report)
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.
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