MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Average Rating of “Moderate Buy” by Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX) has earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $81.43.

Several brokerages have issued reports on MLTX. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Friday, January 10th. The Goldman Sachs Group raised shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $82.00 in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Finally, Wedbush reiterated an “outperform” rating and issued a $73.00 price target (down from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently modified their holdings of MLTX. FMR LLC lifted its stake in shares of MoonLake Immunotherapeutics by 35.8% during the 3rd quarter. FMR LLC now owns 4,950,224 shares of the company’s stock valued at $249,590,000 after buying an additional 1,306,215 shares in the last quarter. Logos Global Management LP purchased a new position in shares of MoonLake Immunotherapeutics in the second quarter valued at about $32,978,000. Marshall Wace LLP boosted its stake 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 acquiring an additional 587,684 shares during the period. Avoro Capital Advisors LLC grew its position in shares of MoonLake Immunotherapeutics by 7.4% during the second quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock worth $121,797,000 after purchasing an additional 190,000 shares in the last quarter. Finally, Millennium Management LLC raised its stake in MoonLake Immunotherapeutics by 596.0% during the 2nd quarter. Millennium Management LLC now owns 216,964 shares of the company’s stock valued at $9,540,000 after purchasing an additional 185,789 shares during the period. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Stock Down 5.7 %

MLTX opened at $41.47 on Friday. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -32.15 and a beta of 1.31. The firm has a 50 day moving average price of $51.79 and a 200-day moving average price of $48.93. MoonLake Immunotherapeutics has a twelve month low of $37.55 and a twelve month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results 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 quarter in the previous year, the company earned ($0.18) earnings per share. As a group, analysts expect that MoonLake Immunotherapeutics will post -1.75 earnings per share for the current year.

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.