MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Down 4%

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) traded down 4% during mid-day trading on Tuesday . The company traded as low as $47.94 and last traded at $47.97. 106,821 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 379,545 shares. The stock had previously closed at $49.98.

Analysts Set New Price Targets

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

MoonLake Immunotherapeutics Stock Up 1.1 %

The firm has a 50-day moving average price of $46.54 and a 200 day moving average price of $44.65. The firm has a market capitalization of $3.43 billion, a PE ratio of -70.81 and a beta of 1.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results 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 quarter in the prior year, the firm posted ($0.23) earnings per share. Equities research analysts expect that MoonLake Immunotherapeutics will post -1.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MLTX. PNC Financial Services Group Inc. boosted its position in MoonLake Immunotherapeutics by 50.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock valued at $371,000 after buying an additional 2,067 shares during the period. Westfield Capital Management Co. LP boosted its holdings in MoonLake Immunotherapeutics by 56.4% in the fourth quarter. Westfield Capital Management Co. LP now owns 612,050 shares of the company’s stock valued at $36,962,000 after purchasing an additional 220,771 shares during the period. TD Asset Management Inc grew its stake in 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 in the last quarter. Finepoint Capital LP increased its holdings in 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 period. Finally, Affinity Asset Advisors LLC raised its position in MoonLake Immunotherapeutics by 42.0% in the 4th quarter. Affinity Asset Advisors LLC now owns 70,988 shares of the company’s stock valued at $4,287,000 after purchasing an additional 20,988 shares in the last quarter. Institutional investors and hedge funds 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.