MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Up 5.1% – Here’s What Happened

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s stock price traded up 5.1% on Thursday . The company traded as high as $55.60 and last traded at $55.35. 34,091 shares were traded during mid-day trading, a decline of 90% from the average session volume of 353,342 shares. The stock had previously closed at $52.67.

Analyst Ratings Changes

A number of brokerages recently issued reports on MLTX. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and set a $62.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Wedbush restated an “outperform” rating and issued a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.43.

MoonLake Immunotherapeutics Stock Up 1.8 %

The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of -42.92 and a beta of 1.31. The business’s fifty day moving average is $51.24 and its 200 day moving average is $48.02.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same quarter in the previous year, the business earned ($0.18) earnings per share. Equities research analysts expect that MoonLake Immunotherapeutics will post -1.74 EPS for the current year.

Insider Activity at MoonLake Immunotherapeutics

In related news, Director Simon Sturge sold 171,000 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the completion of the transaction, the director now owns 171,980 shares in the company, valued at approximately $9,238,765.60. This represents a 49.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.02% of the stock is owned by insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its position in shares of MoonLake Immunotherapeutics by 1,269.2% in the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock valued at $283,000 after acquiring an additional 5,229 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in MoonLake Immunotherapeutics by 55.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 20,325 shares of the company’s stock valued at $1,025,000 after purchasing an additional 7,247 shares in the last quarter. State Street Corp increased its position in shares of MoonLake Immunotherapeutics by 96.2% during the 3rd quarter. State Street Corp now owns 87,637 shares of the company’s stock worth $4,419,000 after purchasing an additional 42,980 shares during the last quarter. Parkman Healthcare Partners LLC raised its stake in shares of MoonLake Immunotherapeutics by 1.6% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 102,813 shares of the company’s stock worth $5,184,000 after purchasing an additional 1,589 shares in the last quarter. Finally, HighVista Strategies LLC boosted its holdings in shares of MoonLake Immunotherapeutics by 3.1% in the 3rd quarter. HighVista Strategies LLC now owns 43,541 shares of the company’s stock valued at $2,195,000 after buying an additional 1,292 shares during the last quarter. 93.85% of the stock is owned by institutional investors.

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.