MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target Lowered to $73.00 at The Goldman Sachs Group

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its target price decreased by The Goldman Sachs Group from $82.00 to $73.00 in a research note issued to investors on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other analysts also recently commented on MLTX. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday. Wedbush restated an “outperform” rating and set a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Finally, Needham & Company LLC lifted their price objective on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $83.20.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX stock opened at $41.77 on Thursday. MoonLake Immunotherapeutics has a one year low of $37.55 and a one year high of $58.26. The stock has a market cap of $2.67 billion, a P/E ratio of -32.38 and a beta of 1.28. The stock has a fifty day moving average price of $46.90 and a 200 day moving average price of $48.99.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. bought a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter worth approximately $338,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in MoonLake Immunotherapeutics by 17.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,236 shares of the company’s stock valued at $2,287,000 after buying an additional 6,422 shares during the period. Woodline Partners LP raised its stake in MoonLake Immunotherapeutics by 26.3% in the fourth quarter. Woodline Partners LP now owns 293,535 shares of the company’s stock valued at $15,895,000 after purchasing an additional 61,105 shares in the last quarter. Wexford Capital LP lifted its holdings in shares of MoonLake Immunotherapeutics by 71.4% during the 4th quarter. Wexford Capital LP now owns 24,000 shares of the company’s stock worth $1,300,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at about $5,346,000. Hedge funds and other 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.