MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Down 4%

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price traded down 4% during trading on Tuesday . The company traded as low as $47.94 and last traded at $47.97. 106,821 shares were traded 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.

Analyst Ratings Changes

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

MoonLake Immunotherapeutics Stock Performance

The business’s fifty day moving average price is $46.25 and its two-hundred day moving average price is $44.59. The firm has a market capitalization of $3.26 billion, a P/E ratio of -66.64 and a beta of 1.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data 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. Sell-side analysts predict that MoonLake Immunotherapeutics will post -1.45 earnings per share for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently bought and sold shares of MLTX. Logos Global Management LP acquired a new position in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at $32,978,000. Marshall Wace LLP grew its stake in shares of MoonLake Immunotherapeutics by 115.0% in the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock worth $48,307,000 after acquiring an additional 587,684 shares in the last quarter. Avoro Capital Advisors LLC increased its position in shares of MoonLake Immunotherapeutics by 29.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock worth $155,806,000 after acquiring an additional 580,001 shares during the period. Finepoint Capital LP raised its stake in shares of MoonLake Immunotherapeutics by 170.1% in the fourth quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock valued at $54,049,000 after acquiring an additional 563,584 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in MoonLake Immunotherapeutics by 48.8% in the first quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock valued at $45,753,000 after purchasing an additional 298,823 shares during the period. 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.