MoonLake Immunotherapeutics (NASDAQ:MLTX) Sets New 12-Month Low - Should You Sell?

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s stock price reached a new 52-week low on Monday . The stock traded as low as $34.13 and last traded at $35.04, with a volume of 339603 shares changing hands. The stock had previously closed at $37.21.

Wall Street Analysts Forecast Growth

MLTX has been the subject of a number of research analyst reports. The Goldman Sachs Group reduced 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 report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Needham & Company LLC upped their price target on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, 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. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of "Buy" and a consensus price target of $80.50.

MoonLake Immunotherapeutics Price Performance

The stock's fifty day moving average is $39.85 and its 200-day moving average is $46.47. The stock has a market capitalization of $2.23 billion, a P/E ratio of -27.05 and a beta of 1.32.

Remove Ads

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

Institutional Trading of MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Deutsche Bank AG raised its holdings in MoonLake Immunotherapeutics by 59.8% in the 4th quarter. Deutsche Bank AG now owns 903 shares of the company's stock worth $49,000 after acquiring an additional 338 shares during the period. Birchview Capital LP bought a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at approximately $217,000. KLP Kapitalforvaltning AS bought a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at approximately $244,000. PEAK6 LLC bought a new position in MoonLake Immunotherapeutics in the 4th quarter worth approximately $271,000. Finally, Mariner LLC acquired a new position in shares of MoonLake Immunotherapeutics during the fourth quarter worth approximately $272,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.