MoonLake Immunotherapeutics’ (MLTX) Buy Rating Reaffirmed at HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $100.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 107.60% from the stock’s current price.

A number of other analysts have also issued reports on MLTX. Wedbush reiterated an “outperform” rating and set a $73.00 price target (down from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $62.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $81.43.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $48.17 on Friday. MoonLake Immunotherapeutics has a fifty-two week low of $37.55 and a fifty-two week high of $64.98. The company has a 50 day moving average price of $52.18 and a 200 day moving average price of $48.80. The stock has a market capitalization of $3.08 billion, a P/E ratio of -37.34 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) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same period last year, the firm posted ($0.18) earnings per share. Research analysts forecast that MoonLake Immunotherapeutics will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in shares of MoonLake Immunotherapeutics by 16.0% during the second quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock worth $7,681,000 after purchasing an additional 24,037 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of MoonLake Immunotherapeutics by 2.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock worth $49,617,000 after acquiring an additional 28,672 shares in the last quarter. Avoro Capital Advisors LLC increased its holdings in shares of MoonLake Immunotherapeutics by 7.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock valued at $121,797,000 after acquiring an additional 190,000 shares during the last quarter. Logos Global Management LP acquired a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter worth about $32,978,000. Finally, Marshall Wace LLP lifted its stake in MoonLake Immunotherapeutics by 115.0% during 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 institutional investors and hedge funds.

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.