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

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

A number of other equities analysts also recently commented on MLTX. Oppenheimer assumed coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They set an outperform rating and a $104.00 price objective for the company. Cantor Fitzgerald reiterated an overweight rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 9th. Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an outperform rating to a peer perform rating in a report on Monday, August 26th. Finally, Needham & Company LLC cut their price target on shares of MoonLake Immunotherapeutics from $66.00 to $62.00 and set a buy rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, MoonLake Immunotherapeutics currently has a consensus rating of Moderate Buy and a consensus price target of $80.45.

MoonLake Immunotherapeutics Stock Performance

Shares of MoonLake Immunotherapeutics stock opened at $51.14 on Thursday. The company has a market cap of $3.27 billion, a P/E ratio of -68.19 and a beta of 1.26. MoonLake Immunotherapeutics has a one year low of $35.11 and a one year high of $64.98. The firm has a fifty day moving average of $46.12 and a two-hundred day moving average of $44.74.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same period in the prior year, the firm posted ($0.23) EPS. As a group, equities analysts predict that MoonLake Immunotherapeutics will post -1.45 earnings per share for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently added to or reduced their stakes in MLTX. PNC Financial Services Group Inc. increased its holdings in MoonLake Immunotherapeutics by 50.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock valued at $371,000 after acquiring an additional 2,067 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in MoonLake Immunotherapeutics by 56.4% during the 4th quarter. Westfield Capital Management Co. LP now owns 612,050 shares of the company’s stock valued at $36,962,000 after acquiring an additional 220,771 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of MoonLake Immunotherapeutics by 4.4% during the 4th quarter. TD Asset Management Inc now owns 209,142 shares of the company’s stock worth $12,630,000 after purchasing an additional 8,752 shares during the last quarter. Finepoint Capital LP boosted its stake in shares of MoonLake Immunotherapeutics by 170.1% during the 4th quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock worth $54,049,000 after purchasing an additional 563,584 shares during the last quarter. Finally, Affinity Asset Advisors LLC boosted its stake in shares of MoonLake Immunotherapeutics by 42.0% during the 4th quarter. Affinity Asset Advisors LLC now owns 70,988 shares of the company’s stock worth $4,287,000 after purchasing an additional 20,988 shares during the last quarter. 93.85% of the stock is currently 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.