MoonLake Immunotherapeutics’ (MLTX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report released on Friday,Benzinga reports. They currently have a $100.00 price target on the stock.

MLTX has been the subject of a number of other research reports. Needham & Company LLC restated a “buy” rating and issued a $62.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.43.

MoonLake Immunotherapeutics Price Performance

Shares of MoonLake Immunotherapeutics stock opened at $46.31 on Friday. MoonLake Immunotherapeutics has a 1 year low of $37.55 and a 1 year high of $64.98. The firm has a market cap of $2.96 billion, a PE ratio of -35.90 and a beta of 1.31. The company has a 50 day simple moving average of $52.17 and a two-hundred day simple moving average of $48.91.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its 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 period in the prior year, the firm posted ($0.18) EPS. As a group, research analysts anticipate that MoonLake Immunotherapeutics will post -1.75 earnings per share for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Hedge funds have recently made changes to their positions in the business. US Bancorp DE bought a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter worth approximately $44,000. Quarry LP raised its holdings in MoonLake Immunotherapeutics by 172.7% in the second quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $132,000 after purchasing an additional 1,900 shares in the last quarter. Barclays PLC lifted its position in MoonLake Immunotherapeutics by 1,269.2% during the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock valued at $283,000 after buying an additional 5,229 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of MoonLake Immunotherapeutics by 26.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after buying an additional 2,700 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter worth about $706,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.