MoonLake Immunotherapeutics (NASDAQ:MLTX) Earns “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a report issued on Thursday, Benzinga reports. The brokerage currently has a $100.00 price objective on the stock.

MLTX has been the topic of several other research reports. Cantor Fitzgerald reissued an overweight rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 9th. Wolfe Research lowered MoonLake Immunotherapeutics from an outperform rating to a peer perform rating in a research note on Monday, August 26th. Needham & Company LLC dropped their price target on MoonLake Immunotherapeutics from $66.00 to $62.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Finally, Oppenheimer assumed coverage on MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They set an outperform rating and a $104.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, MoonLake Immunotherapeutics presently has a consensus rating of Moderate Buy and an average price target of $80.45.

MoonLake Immunotherapeutics Stock Up 0.2 %

Shares of MLTX opened at $51.14 on Thursday. MoonLake Immunotherapeutics has a 12-month low of $35.11 and a 12-month high of $64.98. The firm has a market capitalization of $3.27 billion, a PE ratio of -68.19 and a beta of 1.26. The stock’s fifty day simple moving average is $46.12 and its 200-day simple moving average is $44.67.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same quarter in the previous year, the business earned ($0.23) earnings per share. Analysts anticipate that MoonLake Immunotherapeutics will post -1.45 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in shares of MoonLake Immunotherapeutics during the fourth quarter worth about $51,000. Bellevue Group AG bought a new position in shares of MoonLake Immunotherapeutics during the first quarter worth about $221,000. DNB Asset Management AS grew its holdings in shares of MoonLake Immunotherapeutics by 29.8% during the second quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock worth $324,000 after buying an additional 1,694 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of MoonLake Immunotherapeutics by 50.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock worth $371,000 after buying an additional 2,067 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of MoonLake Immunotherapeutics during the first quarter worth about $726,000. 93.85% of the stock is currently 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.