MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Average Recommendation of “Buy” from Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have received an average rating of “Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $83.20.

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. Finally, Needham & Company LLC raised their target price 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.

MoonLake Immunotherapeutics Trading Down 4.5 %

NASDAQ:MLTX opened at $38.03 on Monday. MoonLake Immunotherapeutics has a twelve month low of $37.55 and a twelve month high of $58.26. The company has a 50-day moving average of $45.10 and a 200-day moving average of $48.64. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of -29.48 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data 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). On average, research analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MLTX. PNC Financial Services Group Inc. lifted its position in shares of MoonLake Immunotherapeutics by 3.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company’s stock worth $460,000 after purchasing an additional 320 shares in the last quarter. Deutsche Bank AG lifted its position in shares of MoonLake Immunotherapeutics by 59.8% in the fourth quarter. Deutsche Bank AG now owns 903 shares of the company’s stock worth $49,000 after purchasing an additional 338 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of MoonLake Immunotherapeutics by 1.9% in the third quarter. GSA Capital Partners LLP now owns 22,127 shares of the company’s stock worth $1,116,000 after purchasing an additional 403 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of MoonLake Immunotherapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 58,950 shares of the company’s stock worth $3,192,000 after purchasing an additional 540 shares in the last quarter. Finally, DnB Asset Management AS lifted its position in shares of MoonLake Immunotherapeutics by 11.3% in the fourth quarter. DnB Asset Management AS now owns 8,356 shares of the company’s stock worth $452,000 after purchasing an additional 847 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.