MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Up 5.1% – Should You Buy?

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) rose 5.1% during trading on Thursday . The stock traded as high as $55.60 and last traded at $55.35. Approximately 34,091 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 353,342 shares. The stock had previously closed at $52.67.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MLTX shares. Needham & Company LLC reissued a “buy” rating and issued a $62.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 14th. Finally, Wedbush reiterated an “outperform” rating and issued a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.43.

MoonLake Immunotherapeutics Stock Up 1.8 %

The company’s fifty day moving average price is $51.24 and its two-hundred day moving average price is $48.02. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -42.92 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same quarter in the previous year, the business earned ($0.18) earnings per share. Research analysts forecast that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

Insider Activity

In related news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $53.72, for a total value of $9,186,120.00. Following the transaction, the director now owns 171,980 shares in the company, valued at $9,238,765.60. This trade represents a 49.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in MoonLake Immunotherapeutics by 96.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,814 shares of the company’s stock valued at $1,806,000 after buying an additional 17,580 shares during the period. Erste Asset Management GmbH acquired a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $741,000. Victory Capital Management Inc. lifted its stake in shares of MoonLake Immunotherapeutics by 16.0% in the 2nd quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock valued at $7,681,000 after purchasing an additional 24,037 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of MoonLake Immunotherapeutics by 100.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company’s stock worth $3,906,000 after purchasing an additional 38,779 shares during the last quarter. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth $3,805,000. Institutional investors own 93.85% of the company’s stock.

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.