MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Up 2.9% – Still a Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s stock price shot up 2.9% during trading on Tuesday . The stock traded as high as $39.99 and last traded at $39.79. 16,317 shares traded hands during trading, a decline of 95% from the average session volume of 335,065 shares. The stock had previously closed at $38.67.

Analysts Set New Price Targets

Several research firms recently commented on MLTX. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Royal Bank of Canada began coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday. They issued an “outperform” rating and a $67.00 price objective for the company. The Goldman Sachs Group dropped their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Needham & Company LLC increased their price objective on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $80.50.

MoonLake Immunotherapeutics Trading Up 4.1 %

The company’s fifty day moving average price is $43.28 and its two-hundred day moving average price is $48.21. The firm has a market cap of $2.58 billion, a P/E ratio of -31.19 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). On average, analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently added to or reduced their stakes in MLTX. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at about $1,091,000. Jefferies Financial Group Inc. bought a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at about $338,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of MoonLake Immunotherapeutics by 17.9% in the 4th 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 during the last quarter. Woodline Partners LP boosted its stake in shares of MoonLake Immunotherapeutics by 26.3% in the 4th quarter. Woodline Partners LP now owns 293,535 shares of the company’s stock valued at $15,895,000 after purchasing an additional 61,105 shares during the last quarter. Finally, Wexford Capital LP boosted its stake in shares of MoonLake Immunotherapeutics by 71.4% in the 4th quarter. Wexford Capital LP now owns 24,000 shares of the company’s stock valued at $1,300,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors own 93.85% of the company’s stock.

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.