MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Up 5.6%

MoonLake Immunotherapeutics (NASDAQ:MLTX) shares shot up 5.6% during mid-day trading on Wednesday . The company traded as high as $53.85 and last traded at $53.85. 297,658 shares traded hands during trading, a decline of 22% from the average session volume of 381,000 shares. The stock had previously closed at $50.99.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Oppenheimer began coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 25th. They set an “outperform” rating and a $104.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 9th. HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Finally, Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $80.45.

MoonLake Immunotherapeutics Trading Up 5.6 %

The company has a market capitalization of $3.44 billion, a PE ratio of -71.39 and a beta of 1.26. The company has a fifty day simple moving average of $46.37 and a 200-day simple moving average of $44.59.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same period last year, the firm posted ($0.23) earnings per share. On average, equities analysts predict that MoonLake Immunotherapeutics will post -1.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MLTX. Quarry LP acquired a new position in MoonLake Immunotherapeutics during the 4th quarter valued at about $51,000. Bellevue Group AG acquired a new position in MoonLake Immunotherapeutics during the first quarter worth $221,000. DNB Asset Management AS grew its stake in MoonLake Immunotherapeutics by 29.8% in the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock valued at $324,000 after buying an additional 1,694 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of MoonLake Immunotherapeutics by 50.7% in the fourth 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 during the period. Finally, SG Americas Securities LLC acquired a new position in MoonLake Immunotherapeutics in the 1st quarter valued at approximately $726,000. 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.