MoonLake Immunotherapeutics (NASDAQ:MLTX) Hits New 52-Week Low – What’s Next?

MoonLake Immunotherapeutics (NASDAQ:MLTX) shares hit a new 52-week low during trading on Monday . The company traded as low as $36.64 and last traded at $36.75, with a volume of 310867 shares trading hands. The stock had previously closed at $38.04.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MLTX shares. Needham & Company LLC upped their price objective on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group lowered their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, MoonLake Immunotherapeutics has an average rating of “Buy” and an average target price of $83.20.

MoonLake Immunotherapeutics Trading Down 3.4 %

The stock has a 50-day moving average of $45.10 and a two-hundred day moving average of $48.63. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -28.49 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.09). Sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Trading of MoonLake Immunotherapeutics

A number of hedge funds have recently modified their holdings of MLTX. US Bancorp DE purchased a new position in shares of MoonLake Immunotherapeutics during the third quarter valued at $44,000. GSA Capital Partners LLP grew its stake in MoonLake Immunotherapeutics by 1.9% during the 3rd quarter. GSA Capital Partners LLP now owns 22,127 shares of the company’s stock valued at $1,116,000 after acquiring an additional 403 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of MoonLake Immunotherapeutics by 24.7% in the 3rd quarter. Victory Capital Management Inc. now owns 217,839 shares of the company’s stock valued at $10,983,000 after purchasing an additional 43,157 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of MoonLake Immunotherapeutics by 4.4% in the third quarter. Westfield Capital Management Co. LP now owns 1,167,358 shares of the company’s stock worth $58,858,000 after purchasing an additional 49,733 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of MoonLake Immunotherapeutics by 3.4% during the third quarter. The Manufacturers Life Insurance Company now owns 118,126 shares of the company’s stock worth $5,956,000 after purchasing an additional 3,892 shares during the period. Hedge funds and other 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.