MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) shares traded up 6.3% during mid-day trading on Tuesday . The stock traded as high as $46.23 and last traded at $46.57. 105,743 shares traded hands during trading, a decline of 78% from the average session volume of 484,983 shares. The stock had previously closed at $43.81.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. The Goldman Sachs Group upgraded shares of MoonLake Immunotherapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $62.00 to $82.00 in a research report on Friday. Wedbush restated an "outperform" rating and issued a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Finally, HC Wainwright reiterated a "buy" rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $84.29.
View Our Latest Analysis on MLTX
MoonLake Immunotherapeutics Stock Up 5.0 %
The company has a market capitalization of $2.94 billion, a P/E ratio of -35.69 and a beta of 1.31. The firm has a fifty day simple moving average of $51.43 and a 200-day simple moving average of $49.06.
MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same period in the previous year, the business posted ($0.18) EPS. On average, sell-side analysts predict that MoonLake Immunotherapeutics will post -1.75 earnings per share for the current fiscal year.
Hedge Funds Weigh In On MoonLake Immunotherapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP lifted its holdings in shares of MoonLake Immunotherapeutics by 1.9% in the third quarter. GSA Capital Partners LLP now owns 22,127 shares of the company's stock valued at $1,116,000 after purchasing an additional 403 shares in the last quarter. US Bancorp DE bought a new stake in MoonLake Immunotherapeutics in the 3rd quarter valued at approximately $44,000. HighVista Strategies LLC boosted its position in MoonLake Immunotherapeutics by 3.1% during the 3rd quarter. HighVista Strategies LLC now owns 43,541 shares of the company's stock worth $2,195,000 after acquiring an additional 1,292 shares during the last quarter. Parkman Healthcare Partners LLC grew its stake in shares of MoonLake Immunotherapeutics by 1.6% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 102,813 shares of the company's stock worth $5,184,000 after acquiring an additional 1,589 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of MoonLake Immunotherapeutics by 172.7% in the second quarter. Quarry LP now owns 3,000 shares of the company's stock valued at $132,000 after purchasing an additional 1,900 shares during the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.
MoonLake Immunotherapeutics Company Profile
(
Get Free Report)
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.
Further Reading
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