MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Up 4.1% – Time to Buy?

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

Wall Street Analyst Weigh In

MLTX has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Needham & Company LLC increased their price target on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. The Goldman Sachs Group dropped their price target on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Royal Bank of Canada assumed coverage on MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 price objective on the stock. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $80.50.

MoonLake Immunotherapeutics Stock Performance

The stock has a 50-day simple moving average of $39.05 and a 200 day simple moving average of $45.95. The stock has a market capitalization of $2.56 billion, a P/E ratio of -31.01 and a beta of 1.32.

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

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors have recently modified their holdings of the business. FMR LLC boosted its stake in MoonLake Immunotherapeutics by 28.1% in the fourth quarter. FMR LLC now owns 6,341,391 shares of the company’s stock valued at $343,386,000 after acquiring an additional 1,391,167 shares during the last quarter. Paradigm Biocapital Advisors LP grew its stake in shares of MoonLake Immunotherapeutics by 90.3% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock worth $95,965,000 after purchasing an additional 840,731 shares during the period. Polar Capital Holdings Plc increased its holdings in MoonLake Immunotherapeutics by 120.0% in the fourth quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company’s stock valued at $59,565,000 after purchasing an additional 600,000 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in MoonLake Immunotherapeutics by 12.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock valued at $181,059,000 after buying an additional 363,394 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of MoonLake Immunotherapeutics by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company’s stock worth $69,315,000 after buying an additional 149,724 shares during the period. Institutional investors and hedge funds own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Company Profile

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.