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

HC Wainwright reiterated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $100.00 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group raised shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $62.00 to $82.00 in a research report on Friday, January 17th. Wedbush restated an “outperform” rating and issued a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. One research 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $83.20.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX opened at $41.77 on Thursday. MoonLake Immunotherapeutics has a fifty-two week low of $37.55 and a fifty-two week high of $58.26. The company has a market cap of $2.67 billion, a PE ratio of -32.38 and a beta of 1.28. The business has a 50-day simple moving average of $46.90 and a two-hundred day simple moving average of $48.99.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly 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). On average, sell-side analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several large investors have recently modified their holdings of the stock. Jefferies Financial Group Inc. purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth approximately $338,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 17.9% in 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 purchasing an additional 6,422 shares in the last quarter. Woodline Partners LP grew its holdings in shares of MoonLake Immunotherapeutics by 26.3% during the fourth quarter. Woodline Partners LP now owns 293,535 shares of the company’s stock valued at $15,895,000 after buying an additional 61,105 shares in the last quarter. Wexford Capital LP raised its position in MoonLake Immunotherapeutics by 71.4% during the fourth quarter. Wexford Capital LP now owns 24,000 shares of the company’s stock valued at $1,300,000 after buying an additional 10,000 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in MoonLake Immunotherapeutics in the 4th quarter worth about $5,346,000. 93.85% of the stock is owned by institutional investors.

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.