Brokerages Set MoonLake Immunotherapeutics (NASDAQ:MLTX) PT at $83.20

MoonLake Immunotherapeutics (NASDAQ:MLTX) has been given an average rating of “Buy” by the seven ratings firms that are presently covering the stock, MarketBeat.com reports. 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. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $83.20.

Several brokerages have recently weighed in on MLTX. HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Needham & Company LLC upped their price objective on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, The Goldman Sachs Group cut their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th.

MoonLake Immunotherapeutics Price Performance

MoonLake Immunotherapeutics stock opened at $38.03 on Monday. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -29.48 and a beta of 1.31. The business has a fifty day moving average price of $45.10 and a 200-day moving average price of $48.63. MoonLake Immunotherapeutics has a 1-year low of $37.55 and a 1-year high of $58.26.

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

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Large investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter worth approximately $1,091,000. Jefferies Financial Group Inc. acquired a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter worth $338,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of MoonLake Immunotherapeutics by 17.9% during 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 worth $2,287,000 after purchasing an additional 6,422 shares during the last quarter. Woodline Partners LP raised its position 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 worth $15,895,000 after buying an additional 61,105 shares during the period. Finally, Wexford Capital LP raised its position 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 worth $1,300,000 after buying an additional 10,000 shares during the period. 93.85% of the stock is owned by hedge funds and other 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.