MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading 4.1% Higher - Should You Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s share price traded up 4.1% on Monday . The stock traded as high as $40.38 and last traded at $39.92. 195,255 shares were traded during mid-day trading, a decline of 43% from the average session volume of 344,036 shares. The stock had previously closed at $38.33.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MLTX shares. Needham & Company LLC increased their target price 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. 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 target on the stock. The Goldman Sachs Group lowered their price objective 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. Finally, HC Wainwright reiterated a "buy" rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $80.50.

MoonLake Immunotherapeutics Stock Down 0.1 %

The firm has a 50 day simple moving average of $38.67 and a two-hundred day simple moving average of $45.60. The stock has a market capitalization of $2.52 billion, a P/E ratio of -30.56 and a beta of 1.32.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings data 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). On average, research analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Barclays PLC grew its position in MoonLake Immunotherapeutics by 1,269.2% during the 3rd quarter. Barclays PLC now owns 5,641 shares of the company's stock worth $283,000 after acquiring an additional 5,229 shares during the last quarter. State Street Corp grew its holdings in shares of MoonLake Immunotherapeutics by 96.2% during the third quarter. State Street Corp now owns 87,637 shares of the company's stock worth $4,419,000 after purchasing an additional 42,980 shares during the last quarter. Congress Asset Management Co. increased its stake in shares of MoonLake Immunotherapeutics by 9.5% in the fourth quarter. Congress Asset Management Co. now owns 72,993 shares of the company's stock valued at $3,953,000 after buying an additional 6,352 shares during the period. KLP Kapitalforvaltning AS bought a new position in MoonLake Immunotherapeutics in the 4th quarter valued at approximately $244,000. Finally, Rice Hall James & Associates LLC raised its holdings in MoonLake Immunotherapeutics by 47.3% in the 4th quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company's stock valued at $6,018,000 after buying an additional 35,664 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.