MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $80.50 Average PT from Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) has been assigned an average recommendation of "Buy" from the eight research firms that are presently covering the company, Marketbeat Ratings reports. One equities research 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. The average 1 year target price among brokers that have covered the stock in the last year is $80.50.

A number of analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Needham & Company LLC upped their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Royal Bank of Canada began coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $67.00 price target on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of MoonLake Immunotherapeutics by 3.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company's stock valued at $460,000 after purchasing an additional 320 shares in the last quarter. Deutsche Bank AG lifted its stake in MoonLake Immunotherapeutics by 59.8% in the 4th quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after acquiring an additional 338 shares in the last quarter. Geode Capital Management LLC boosted its position in MoonLake Immunotherapeutics by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 58,950 shares of the company's stock worth $3,192,000 after acquiring an additional 540 shares during the last quarter. DnB Asset Management AS boosted its position in MoonLake Immunotherapeutics by 11.3% during the 4th quarter. DnB Asset Management AS now owns 8,356 shares of the company's stock worth $452,000 after acquiring an additional 847 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of MoonLake Immunotherapeutics by 18.4% during the 4th quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company's stock worth $354,000 after acquiring an additional 1,013 shares in the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

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MoonLake Immunotherapeutics Trading Down 4.1 %

Shares of MLTX traded down $1.63 during trading hours on Friday, hitting $38.23. 11,734 shares of the stock traded hands, compared to its average volume of 337,901. The business has a fifty day moving average of $42.17 and a 200-day moving average of $47.79. The firm has a market capitalization of $2.45 billion, a PE ratio of -29.20 and a beta of 1.31. MoonLake Immunotherapeutics has a 1-year low of $36.52 and a 1-year high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its 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). As a group, equities research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

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.