Analysts Set MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target at $81.43

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $81.43.

Several analysts have issued reports on MLTX shares. Wolfe Research lowered shares of MoonLake Immunotherapeutics from an "outperform" rating to a "peer perform" rating in a research report on Monday, August 26th. Wedbush reissued an "outperform" rating and set a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Cantor Fitzgerald reiterated an "overweight" rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th.

Insider Activity at MoonLake Immunotherapeutics

In other news, Director Simon Sturge sold 171,000 shares of the firm's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the sale, the director now owns 171,980 shares of the company's stock, valued at $9,238,765.60. This trade represents a 49.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. TD Asset Management Inc boosted its position in shares of MoonLake Immunotherapeutics by 2.5% in the second quarter. TD Asset Management Inc now owns 209,234 shares of the company's stock worth $9,200,000 after purchasing an additional 5,140 shares during the period. Victory Capital Management Inc. raised its holdings in MoonLake Immunotherapeutics by 16.0% during the second quarter. Victory Capital Management Inc. now owns 174,682 shares of the company's stock valued at $7,681,000 after acquiring an additional 24,037 shares during the period. Federated Hermes Inc. raised its holdings in MoonLake Immunotherapeutics by 2.6% during the second quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company's stock valued at $49,617,000 after acquiring an additional 28,672 shares during the period. Avoro Capital Advisors LLC lifted its position in shares of MoonLake Immunotherapeutics by 7.4% in the second quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company's stock valued at $121,797,000 after acquiring an additional 190,000 shares in the last quarter. Finally, Logos Global Management LP bought a new position in shares of MoonLake Immunotherapeutics in the second quarter worth about $32,978,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Trading Down 3.9 %

Shares of NASDAQ:MLTX traded down $2.17 during trading on Wednesday, reaching $54.13. The company had a trading volume of 41,090 shares, compared to its average volume of 356,082. The company has a fifty day moving average of $50.50 and a two-hundred day moving average of $47.47. The stock has a market capitalization of $3.46 billion, a P/E ratio of -43.64 and a beta of 1.31. MoonLake Immunotherapeutics has a 12 month low of $37.55 and a 12 month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same period in the previous year, the company earned ($0.18) earnings per share. As a group, equities research analysts predict that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

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.