MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Up 2.9% - Still a Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s share price traded up 2.9% during mid-day trading on Tuesday . The company traded as high as $39.99 and last traded at $39.79. 16,317 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 335,065 shares. The stock had previously closed at $38.67.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Needham & Company LLC increased their price objective 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. Royal Bank of Canada started coverage on MoonLake Immunotherapeutics in a research report on Tuesday. They issued an "outperform" rating and a $67.00 price target for the company. HC Wainwright restated a "buy" rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group cut their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $80.50.

MoonLake Immunotherapeutics Stock Performance

The business has a 50-day simple moving average of $42.63 and a two-hundred day simple moving average of $48.02. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -31.10 and a beta of 1.31.

Remove Ads

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

Institutional Investors Weigh In On MoonLake Immunotherapeutics

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

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.