MoonLake Immunotherapeutics (NASDAQ:MLTX) Share Price Breaks Above 50 Day Moving Average – Time to Sell?

MoonLake Immunotherapeutics (NASDAQ:MLTX) shares crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $12.06 and traded as high as $12.91. MoonLake Immunotherapeutics shares last traded at $12.62, with a volume of 1,592,523 shares traded.

Analyst Ratings Changes

Several brokerages have recently commented on MLTX. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday, October 5th. Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Wednesday, September 16th. Wall Street Zen downgraded shares of MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a research note on Sunday, September 27th. Finally, Chardan Capital initiated coverage on shares of MoonLake Immunotherapeutics in a report on Friday. They set a “buy” rating and a $57.00 price objective on the stock. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.09.

MoonLake Immunotherapeutics Stock Up 9.5%

The business has a 50 day moving average of $12.06 and a two-hundred day moving average of $16.31. The stock has a market capitalization of $1.07 billion, a PE ratio of -3.44 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 12.56 and a current ratio of 12.56.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, November 4th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.10). Analysts predict that MoonLake Immunotherapeutics will post -3.45 EPS for the current year.

Institutional Trading of MoonLake Immunotherapeutics

A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its position in shares of MoonLake Immunotherapeutics by 227.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 40,557 shares of the company’s stock worth $475,000 after buying an additional 28,166 shares during the last quarter. Congress Asset Management Co. boosted its stake in MoonLake Immunotherapeutics by 24.1% in the third quarter. Congress Asset Management Co. now owns 223,883 shares of the company’s stock valued at $2,619,000 after acquiring an additional 43,435 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in MoonLake Immunotherapeutics in the second quarter valued at approximately $2,173,000. Integrated Wealth Concepts LLC acquired a new stake in MoonLake Immunotherapeutics in the second quarter valued at approximately $39,000. Finally, Allworth Financial LP grew its holdings in MoonLake Immunotherapeutics by 156.2% in the second quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,045 shares during the last quarter. 93.85% of the stock is currently owned by 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.