MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Up 3.6%

MoonLake Immunotherapeutics (NASDAQ:MLTXGet Free Report)’s stock price rose 3.6% on Tuesday . The stock traded as high as $43.47 and last traded at $43.47. Approximately 52,686 shares traded hands during trading, a decline of 87% from the average daily volume of 414,189 shares. The stock had previously closed at $41.96.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MLTX shares. Wolfe Research started coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They issued an “outperform” rating and a $77.00 target price for the company. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday. The Goldman Sachs Group started coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price objective for the company. Wedbush restated an “outperform” rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.46.

Read Our Latest Research Report on MoonLake Immunotherapeutics

MoonLake Immunotherapeutics Stock Performance

The company has a market cap of $2.80 billion, a PE ratio of -55.95 and a beta of 1.25. The firm has a fifty day simple moving average of $42.56 and a 200 day simple moving average of $50.20.

MoonLake Immunotherapeutics (NASDAQ:MLTXGet Free Report) last posted its quarterly earnings results on Sunday, May 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). As a group, equities analysts predict that MoonLake Immunotherapeutics will post -1.16 EPS for the current fiscal year.

Institutional Trading of MoonLake Immunotherapeutics

Several large investors have recently bought and sold shares of the company. Quarry LP acquired a new position in shares of MoonLake Immunotherapeutics during the fourth quarter valued at $51,000. Barclays PLC acquired a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $189,000. Stratos Wealth Partners LTD. acquired a new stake in MoonLake Immunotherapeutics during the 4th quarter worth about $202,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in MoonLake Immunotherapeutics during the 4th quarter worth about $217,000. Finally, Bellevue Group AG acquired a new stake in MoonLake Immunotherapeutics during the 1st quarter worth about $221,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

About MoonLake Immunotherapeutics

(Get Free Report)

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.

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