MoonLake Immunotherapeutics (NASDAQ:MLTX) Sees Strong Trading Volume – What’s Next?

MoonLake Immunotherapeutics (NASDAQ:MLTX) shares saw unusually-strong trading volume on Monday . Approximately 463,252 shares changed hands during trading, an increase of 60% from the previous session’s volume of 290,290 shares.The stock last traded at $52.10 and had previously closed at $53.45.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Wedbush reissued an “outperform” rating and set a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and issued a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.43.

MoonLake Immunotherapeutics Stock Performance

The firm has a market cap of $3.08 billion, a PE ratio of -37.34 and a beta of 1.31. The stock has a 50 day simple moving average of $52.12 and a two-hundred day simple moving average of $48.80.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced 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 prior year, the firm posted ($0.18) earnings per share. Equities research analysts forecast that MoonLake Immunotherapeutics will post -1.75 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE purchased a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter valued at approximately $44,000. Quarry LP raised its position in MoonLake Immunotherapeutics by 172.7% during the second quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $132,000 after acquiring an additional 1,900 shares during the period. Barclays PLC lifted its holdings in MoonLake Immunotherapeutics by 1,269.2% during the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock valued at $283,000 after purchasing an additional 5,229 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in MoonLake Immunotherapeutics by 26.2% during the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after purchasing an additional 2,700 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth about $706,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Company Profile

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.