MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Up 2.9% – Time to Buy?

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) rose 2.9% on Tuesday . The company traded as high as $39.99 and last traded at $39.79. Approximately 16,317 shares traded hands during trading, a decline of 95% from the average daily volume of 335,065 shares. The stock had previously closed at $38.67.

Wall Street Analysts Forecast Growth

MLTX has been the topic of a number of analyst reports. The Goldman Sachs Group cut 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 report on Thursday, February 27th. Royal Bank of Canada started coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday. They set an “outperform” rating and a $67.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, Needham & Company LLC boosted their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $80.50.

MoonLake Immunotherapeutics Stock Up 0.7 %

The stock’s 50 day moving average is $42.90 and its two-hundred day moving average is $48.10. The company has a market capitalization of $2.56 billion, a PE ratio of -30.95 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). On average, sell-side analysts predict 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 added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter worth about $1,091,000. Jefferies Financial Group Inc. purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter worth about $338,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of MoonLake Immunotherapeutics by 17.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,236 shares of the company’s stock valued at $2,287,000 after buying an additional 6,422 shares during the last quarter. Woodline Partners LP lifted its position in shares of MoonLake Immunotherapeutics by 26.3% during the fourth quarter. Woodline Partners LP now owns 293,535 shares of the company’s stock valued at $15,895,000 after buying an additional 61,105 shares during the last quarter. Finally, Wexford Capital LP lifted its position in shares of MoonLake Immunotherapeutics by 71.4% during the fourth quarter. Wexford Capital LP now owns 24,000 shares of the company’s stock valued at $1,300,000 after buying an additional 10,000 shares during the last quarter. 93.85% of the stock is owned by hedge funds and other 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.