MoonLake Immunotherapeutics (NASDAQ:MLTX) Sets New 1-Year Low – Time to Sell?

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) reached a new 52-week low during trading on Tuesday . The stock traded as low as $36.34 and last traded at $36.35, with a volume of 503163 shares changing hands. The stock had previously closed at $39.07.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Royal Bank of Canada began coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 price target for the company. Needham & Company LLC boosted their target price on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. The Goldman Sachs Group dropped their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $80.50.

MoonLake Immunotherapeutics Price Performance

The company has a market capitalization of $2.33 billion, a P/E ratio of -28.18 and a beta of 1.31. The company has a 50 day moving average of $42.08 and a 200-day moving average of $47.70.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). Research analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its position in shares of MoonLake Immunotherapeutics by 59.8% in the 4th quarter. Deutsche Bank AG now owns 903 shares of the company’s stock worth $49,000 after purchasing an additional 338 shares during the period. Birchview Capital LP purchased a new position in shares of MoonLake Immunotherapeutics during the fourth quarter valued at about $217,000. KLP Kapitalforvaltning AS bought a new position in MoonLake Immunotherapeutics in the fourth quarter worth about $244,000. PEAK6 LLC purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter worth about $271,000. Finally, Mariner LLC bought a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at approximately $272,000. 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.