MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Up 5.1% - Time to Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s share price rose 5.1% during trading on Thursday . The stock traded as high as $55.60 and last traded at $55.35. Approximately 34,091 shares traded hands during trading, a decline of 90% from the average daily volume of 353,342 shares. The stock had previously closed at $52.67.

Analyst Ratings Changes

A number of analysts have recently weighed in on MLTX shares. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 14th. Wedbush restated an "outperform" rating and issued a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Cantor Fitzgerald reissued an "overweight" rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Two investment 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $81.43.

MoonLake Immunotherapeutics Stock Up 3.3 %

The company has a market cap of $3.48 billion, a P/E ratio of -42.17 and a beta of 1.31. The business has a fifty day simple moving average of $51.12 and a two-hundred day simple moving average of $47.97.

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

Insider Transactions at MoonLake Immunotherapeutics

In related news, Director Simon Sturge sold 171,000 shares of the company's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the transaction, the director now owns 171,980 shares of the company's stock, valued at approximately $9,238,765.60. This represents a 49.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 12.02% of the company's stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several large investors have recently made changes to their positions in the business. FMR LLC boosted its position in shares of MoonLake Immunotherapeutics by 35.8% during the third quarter. FMR LLC now owns 4,950,224 shares of the company's stock worth $249,590,000 after acquiring an additional 1,306,215 shares during the last quarter. Avoro Capital Advisors LLC boosted its holdings in shares of MoonLake Immunotherapeutics by 7.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company's stock valued at $121,797,000 after purchasing an additional 190,000 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of MoonLake Immunotherapeutics by 4.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,167,358 shares of the company's stock valued at $58,858,000 after purchasing an additional 49,733 shares during the last quarter. Federated Hermes Inc. grew its position in shares of 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 purchasing an additional 28,672 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of MoonLake Immunotherapeutics by 115.0% in the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company's stock worth $48,307,000 after purchasing an additional 587,684 shares during the last quarter. 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.