MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Up 6.3% – What’s Next?

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) were up 6.3% during trading on Tuesday . The company traded as high as $46.23 and last traded at $46.57. Approximately 105,743 shares were traded during trading, a decline of 78% from the average daily volume of 484,983 shares. The stock had previously closed at $43.81.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MLTX shares. Wedbush restated an “outperform” rating and set a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Friday, January 10th. Finally, The Goldman Sachs Group raised shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $82.00 in a research report on Friday, January 17th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $84.29.

MoonLake Immunotherapeutics Stock Performance

The company’s 50 day moving average price is $51.23 and its 200 day moving average price is $49.08. The company has a market cap of $3.00 billion, a price-to-earnings ratio of -36.34 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same period in the prior year, the company posted ($0.18) earnings per share. On average, equities research analysts forecast that MoonLake Immunotherapeutics will post -1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. grew its holdings in MoonLake Immunotherapeutics by 2.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 79,648 shares of the company’s stock valued at $4,313,000 after buying an additional 2,180 shares during the last quarter. Barclays PLC grew its stake in shares of MoonLake Immunotherapeutics by 1,269.2% in the third 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. Y Intercept Hong Kong Ltd increased its position in MoonLake Immunotherapeutics by 55.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 20,325 shares of the company’s stock worth $1,025,000 after acquiring an additional 7,247 shares during the period. State Street Corp raised its stake in MoonLake Immunotherapeutics by 96.2% during the 3rd quarter. State Street Corp now owns 87,637 shares of the company’s stock valued at $4,419,000 after purchasing an additional 42,980 shares during the last quarter. Finally, Parkman Healthcare Partners LLC boosted its holdings in MoonLake Immunotherapeutics by 1.6% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 102,813 shares of the company’s stock valued at $5,184,000 after purchasing an additional 1,589 shares during the period. Institutional investors own 93.85% of the company’s stock.

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.