MoonLake Immunotherapeutics’ (MLTX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a report released on Monday morning, Benzinga reports. They currently have a $100.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group assumed coverage on MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They set a neutral rating and a $62.00 price target for the company. 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 for the company. Needham & Company LLC reissued a buy rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, June 10th. Finally, Wedbush restated an outperform rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $79.00.

MoonLake Immunotherapeutics Stock Down 4.9 %

Shares of NASDAQ:MLTX opened at $41.80 on Monday. The company has a market cap of $2.67 billion, a P/E ratio of -55.73 and a beta of 1.25. MoonLake Immunotherapeutics has a 52 week low of $35.11 and a 52 week high of $64.98. The business has a fifty day simple moving average of $41.41 and a 200-day simple moving average of $49.23.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Sunday, May 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). Sell-side analysts expect that MoonLake Immunotherapeutics will post -1.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Walleye Capital LLC acquired a new position in shares of MoonLake Immunotherapeutics in the third quarter worth about $3,872,000. Perceptive Advisors LLC acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $4,976,000. Avoro Capital Advisors LLC lifted its stake in shares of MoonLake Immunotherapeutics by 29.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock worth $155,806,000 after acquiring an additional 580,001 shares in the last quarter. Finepoint Capital LP lifted its stake in shares of MoonLake Immunotherapeutics by 170.1% in the fourth quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock worth $54,049,000 after acquiring an additional 563,584 shares in the last quarter. Finally, Parkman Healthcare Partners LLC lifted its stake in shares of MoonLake Immunotherapeutics by 53.9% in the fourth quarter. Parkman Healthcare Partners LLC now owns 82,009 shares of the company’s stock worth $4,953,000 after acquiring an additional 28,716 shares in the last quarter. Institutional investors and hedge funds 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.