Cantor Fitzgerald Reaffirms “Overweight” Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

Cantor Fitzgerald restated their overweight rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a report published on Monday morning, Benzinga reports. Cantor Fitzgerald also issued estimates for MoonLake Immunotherapeutics’ FY2024 earnings at ($1.37) EPS.

MLTX has been the topic of several other reports. Needham & Company LLC reaffirmed a buy rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Oppenheimer initiated coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 25th. They issued an outperform rating and a $104.00 price objective on the stock. HC Wainwright reissued a buy rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Finally, Wolfe Research lowered MoonLake Immunotherapeutics from an outperform rating to a peer perform rating in a research report on Monday, August 26th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $80.45.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX opened at $50.81 on Monday. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of -67.75 and a beta of 1.26. The firm has a 50 day moving average price of $47.13 and a 200-day moving average price of $44.90. MoonLake Immunotherapeutics has a fifty-two week low of $35.11 and a fifty-two week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data 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 company posted ($0.23) earnings per share. As a group, equities research analysts predict that MoonLake Immunotherapeutics will post -1.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC raised its stake in MoonLake Immunotherapeutics by 7.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock valued at $121,797,000 after buying an additional 190,000 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in MoonLake Immunotherapeutics by 9.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock valued at $139,744,000 after acquiring an additional 196,144 shares during the last quarter. Federated Hermes Inc. lifted its holdings in MoonLake Immunotherapeutics by 2.6% in the second quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock valued at $49,617,000 after acquiring an additional 28,672 shares during the period. Marshall Wace LLP boosted its position in MoonLake Immunotherapeutics by 115.0% in the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock worth $48,307,000 after purchasing an additional 587,684 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of MoonLake Immunotherapeutics by 48.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock valued at $45,753,000 after purchasing an additional 298,823 shares during the period. 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.