MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Rated “Moderate Buy” by Sell-Side Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $28.50.

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Wednesday, September 16th. Wall Street Zen lowered shares of MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, September 27th. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday, October 5th. Leerink Partners raised their price target on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st.

MoonLake Immunotherapeutics Stock Up 3.2%

Shares of MLTX opened at $12.31 on Friday. MoonLake Immunotherapeutics has a 52-week low of $9.37 and a 52-week high of $23.29. The company has a market capitalization of $1.05 billion, a PE ratio of -3.21 and a beta of 1.08. The stock has a fifty day simple moving average of $12.69 and a two-hundred day simple moving average of $16.53. The company has a quick ratio of 12.56, a current ratio of 12.56 and a debt-to-equity ratio of 0.23.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.07. As a group, equities analysts forecast that MoonLake Immunotherapeutics will post -3.34 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its position in shares of MoonLake Immunotherapeutics by 64.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock worth $64,304,000 after purchasing an additional 1,355,640 shares during the last quarter. Weiss Asset Management LP raised its holdings in MoonLake Immunotherapeutics by 413.1% in the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock valued at $31,843,000 after buying an additional 1,375,367 shares during the period. Candriam S.C.A. lifted its position in MoonLake Immunotherapeutics by 509.0% in the first quarter. Candriam S.C.A. now owns 818,126 shares of the company’s stock valued at $15,250,000 after buying an additional 683,797 shares during the last quarter. Bank of America Corp DE lifted its position in MoonLake Immunotherapeutics by 5,255.8% in the first quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock valued at $13,510,000 after buying an additional 711,261 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in MoonLake Immunotherapeutics by 105.8% in the first quarter. Renaissance Technologies LLC now owns 276,772 shares of the company’s stock valued at $5,159,000 after buying an additional 142,300 shares during the last quarter. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for inflammatory and immunological diseases. The company is advancing medicines designed to address conditions in which the immune system contributes to chronic inflammation and tissue damage.

Its lead product candidate is sonelokimab, an investigational Nanobody-based therapy designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.